The volume consists of an overview and seven country studies, written by leading scholars from both developed and developing countries. The overview lays out a unifying framework for thinking about economic growth as a combination of two challenges. The “structural change challenge” is focused on moving resources from traditional low-productivity activities into modern, more productive industries. The “fundamentals challenge” faced by policy makers in the developing world is about how best to develop broad capabilities such as human capital and infrastructure. While the two are inextricably linked, they are conceptually different, and making this distinction is one of the contributions of this book. The overview also includes a description of the common methodology used in the country studies, a discussion of data and measurement issues, and a synthesis of the findings.
Details
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Author
Mcmillan,Margaret S., Rodrick,Dani, Sepulveda,Claudia Paz
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Document Date
2017/05/11
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Document Type
Working Paper
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Report Number
115274
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2017/05/24
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Disclosure Status
Disclosed
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Doc Name
Structural change, fundamentals, and growth : a framework and case studies
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Keywords
Agriculture;labor productivity;productivity growth;Manufacturing;employment share;rate of productivity growth;united nations population fund;early stage of development;marginal productivity of labor;cgiar research program;labor productivity growth;flexible labor market;Real estate;labor force survey;purchasing power parity;foreign direct investment;drag on growth;share of employment;business service;informal sector;number of researchers;neoclassical growth theory;high youth unemployment;factor of production;sustainable food production;number of workers;representative household surveys;external peer review;standard of living;competitive exchange rate;cost of living;free trade zone;structural adjustment program;agriculture and service;neoclassical growth model;quality of data;incentive to save;rural population growth;labor force participation;agricultural productivity growth;learning by doing;labor force statistics;change in employment;movement of worker;special economic zone;Rule of Law;labor productivity level;national account;modern sector;
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Citation
Mcmillan,Margaret S. Rodrick,Dani Sepulveda,Claudia Paz
Structural change, fundamentals, and growth : a framework and case studies (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/142001495660183312/Structural-change-fundamentals-and-growth-a-framework-and-case-studies