Certain stylized facts are common among successful economic latecomers: an inverse U-shaped gross domestic product and capital per capita growth rate, high growth rates during the catch-up period, and rapid structural changes. This paper, for the first time, proposes a general equilibrium...

Certain stylized facts are common among successful economic latecomers: an inverse U-shaped gross domestic product and capital per capita growth rate, high growth rates during the catch-up period, and rapid structural changes. This paper, for the first time, proposes a general equilibrium...

This paper represents an early attempt to analyze the comprehensive relationship between public educational expenditure and structural change, which is often measured by labor transfer from agricultural sector to industrial sector in developing economies. I construct a two-sector general...

Changes in the labor share of national income affect inequality (Piketty 2014). This paper aims at investigating the relationship between the labor share and technical progress, based on provincial data of the People's Republic of China (PRC) from 1978 to 2012. Our main empirical results show...

Research has not yet been undertaken on the optimal level of urbanization, notwithstanding the pioneering work of Au and Henderson (2006) on optimal urban concentration. This paper develops two-sector general equilibrium models of urbanization, with and without equity consideration,...