The People's Republic of China's (PRC) remarkable growth performance over the last 3 decades has been associated to very robust export growth, so much so that many refer to it as a clear example of export-led growth (ELG). Using the concept of the balance-of-payments equilibrium (BOPE) growth...

While most advanced economies are in the process of industrializing their economies, plots by successive governments to transform the economy Nigerian, from a commodity-driven to an industrialized one, has not yielded much fruits despite several industrial policies and reforms. Based on the...

The age structure of the population in most countries has been changing rapidly, and many countries are becoming knowledge-based economies where the generation and use of information as a critical input to value creation are becoming increasingly important. While a decline in the dependency...

For five decades, the share of adults employed in college-degree-intensive industries, such as health care and education, has been rising. Industries that provided employment for workers without degrees, especially manufacturing, have been reducing their payrolls. This economic transition could...

Structural transformation can spur economic growth and development if it increases overall productivity growth. A labor market environment that enables workers and enterprises to transition smoothly across sectors and into more productive economic pursuits can enhance the effect of structural...

The economic shock induced by the COVID-19 pandemic is accelerating structural changes and is posing new challenges. Austria faces wider growth opportunities and new adjustment challenges related notably to two major structural transformations: transition to carbonless growth and the...

Several studies have highlighted that African manufacturing wages are higher than comparator countries at similar levels of development, which contributes to the continent’s lower levels of manufacturing competitiveness. This paper derives unit labor costs - average wages relative to...

This paper provides novel empirical evidence on the role of trade and structural transformation as potential drivers of the labor income share. Using cross-country data, both at the national and sectoral level, we find that trade openness is negatively correlated with the labor income share. The...

We document a strong negative link between self-employment and the rate of digital adoption by firms in developing and emerging economies. No link between digital adoption and the unemployment rate is found, however. To explain this evidence, we build a general equilibrium search-and-matching...

The year 2017 marks the 50th anniversary of William J. Baumol’s seminal model of "unbalanced growth", which predicts the so-called "Growth Disease", i.e., the tendency of aggregate productivity growth to slow down in the process of tertiarisation. In an important contribution published in...