Indexing Structural Distortion Sectoral Productivity Structural Change And Growth
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Indexing Structural Distortion: Sectoral Productivity, Structural Change and Growth by Sakai Ando,Koffie Ben Nassar Pdf
This paper proposes a new index of sectoral labor distortion using employment and valueadded shares. We show that this index is highly correlated with growth both crosssectionally and over time. We also use it to compare the degree of distortion among countries and identify sectors where the potential payoffs in terms of growth from reforms could be large. The regression analysis in the paper shows that education and various structural reforms have potential to improve the efficiency of sectoral labor allocation.
New Perspectives on Structural Change by Ludovico Alcorta,Neil Foster-McGregor,Bart Verspagen,Adam Szirmai Pdf
New Perspectives on Structural Change is a comprehensive edited volume that outlines both the historical roots and state-of-the-art debates on the role of structural change in the process of economic development, including both orthodox and heterodox perspectives and contributions from prominent scholars in this field. The volume consists of four main sections. The first section covers the theoretical foundations of the structural change literature. The second section presents an empirical overview of the major trends of structural change, using up-to-date data sources and methods. The third section presents a broad ranging empirical analysis of the drivers of structural change. The fourth section examines how processes such as inclusive growth, poverty reduction, productive employment, the global income distribution, and environmental sustainability are affected by structural change, and how they can be influenced by policy.
Accelerated Land Reform, Mining, Growth, Unemployment and Inequality in South Africa by Nombulelo Gumata,Eliphas Ndou Pdf
The overarching goal of South Africa’s National Development Plan (NDP) is to eliminate poverty, reduce inequality, lower unemployment and increase the labour participation.This book contributes to academic and policy efforts to achieve these NDP goals. We establish that the coal, metal ores and the platinum group commodity sectors will underpin the mining as a “sunrise” industry. The export-led growth strategy is necessary for intensive employment creation but must be complemented by other micro, macroeconomic and industrial policies. A strategy of minerals beneficiation is important for intensive employment creation. Accelerated land reform is a supply side or structural reform policy intervention tool aimed at increasing potential output, changing ownership patterns in the economy, increasing entrepreneurship, labour absorption, economic inclusion and lowering income inequality. Evidence shows that the balance sheet channel, commodity price booms and busts are intricately linked with the exchange rate dynamics, policy uncertainty, confidence and the effects of droughts (also symptoms of climate change). Productivity and investment growth shocks matter for output, employment and price stability. Evidence indicates that nominal GDP growth above 10 percent and keeping inflation within the target band leads to significant increase in employment and decline in unemployment, without inflationary pressures, especially when inflation is below 4.5 percent. To operationalise the NDP targets, align and co-ordinate policies, the South African Reserve Bank (SARB) mandate can be expanded to include maximum employment. This must be complemented by lowering the inflation target band, adjusting the financial regulatory, macro-prudential and monetary policy frameworks. This will enhance the conduct and credibility of monetary and financial stability policies to achieve the set objectives. These objectives make policy co-ordination pertinent and binding.
Structural Transformation and the Volatility of Aggregate Output in OECD Countries by Mr.Constant Lonkeng Ngouana Pdf
This paper finds a negative relationship between the employment share of the service sector and the volatility of aggregate output in the OECD—after controlling for the level of financial development. This result reflects volatility differentials across sectors: labor productivity is more volatile in agriculture and manufacturing than in services. Aggregate output would therefore become less volatile as labor moves away from agriculture and manufacturing and toward the service sector. I examine the quantitative role of these labor shifts—termed structural transformation—on the volatility of aggregate output in OECD countries. I first calibrate to the U.S. economy an indivisible labor model in which the reallocation of labor across sectors emerges endogenously from sectoral labor productivity growth differentials. The setup is then used to generate the time path of labor shares in agriculture, manufacturing and services in individual countries. Finally, I perform a set of counterfactual analyzes in which the reallocation of labor across sectors is constrained endogenously. I find that the secular shift of labor towards the service sector was volatility-reducing in OECD countries during 1970–2006.
Author : Anonim Publisher : Institute of Industry and Academic Research Incorporated Page : 113 pages File Size : 53,9 Mb Release : 2022-09-30 Category : Business & Economics ISBN : 8210379456XXX
International Journal of Academe and Industry Research by Anonim Pdf
International Journal of Academe and Industry Research (IJAIR) is an open-access refereed journal focused on the two dimensions of business research: business education and applied industry research. The interconnectedness of the industry and academic institutions needs a platform that aligns their respective research needs. From the academic perspective, the business program management and the teaching and learning had been dramatically influenced by the industry trends and needs, collaborative approaches and internationalization. From there comes the indispensable role of the industry as they become partners to the academic institutions in producing quality workforce and entrepreneurs. Along these areas are the interesting topics for academic and industry researchers.
Varieties of Structural Transformation by Kunal Sen Pdf
One of the key features of modern economic growth is the process of structural transformation, which is the movement of workers from agriculture to manufacturing and services. This study identifies different routes to structural transformation that we see in the developing world. This title is also available as Open Access on Cambridge Core.
Structural Transformation and Economic Development by Banji Oyelaran-Oyeyinka,Kaushalesh Lal Pdf
This book examines long-term structural changes and the broad impact on economic development in regional comparative perspectives. The book analyzes data across Africa, Asia and Latin America. It looks at key variables of productivity growth, industrialization, poverty, urbanization, and employment. This book is concerned with understanding structural change dynamics and how it affects job creation, living standards, and the efficiency of productive cities through manufacturing productivity growth that benefits majority of citizens. With empirical evidence from a selected number of developing countries including China, India, Brazil, Nigeria and South Africa, the book attempts to present the considerable structural changes of these countries over the last few decades. It highlights that growth without the expected job creation is one of the distinct features of growth in emerging and developing countries. It suggests that countries may well record economic growth, whether through within sector productivity increase or through structural change, but this may not necessarily lead to employment, an important concern for long-term development.
IMF Research Bulletin, Fall 2017 by International Monetary Fund. Research Dept. Pdf
The Fall 2017 IMF Research Bulletin includes a Q&A article covering "Seven Questions on the Globalization of Farmland" by Christian Bogmans. The first research summary, by Manmohan Singh and Haobing Wang is "Central Bank Balance Sheet Policies: Some Policy Implications." The second research summary is "Leaning Against the Windy Bank Lending" by Giovanni Melina and Stefania Villa. A listing of new IMF Working Papers and Staff Discussion Notes is featured, as well as new titles from IMF Publications. Information on IMF Economic Review is also included.
Anchoring Growth by Ms.Era Dabla-Norris,Giang Ho,Ms.Kalpana Kochhar,Ms.Annette J Kyobe,Mr.Robert Tchaidze Pdf
Fostering and sustaining robust economic growth is an imperative across advanced, emerging, and low-income countries alike. Countries will need to focus on supply-side reforms to raise their potential output and anchor medium-term growth prospects. This SDN will emphasize the role of structural reforms and supportive policy and institutional frameworks for boosting productivity–a key engine of economic growth–in the wake of the crisis. By examining a broad spectrum of reforms that eliminate impediments to growth, the paper will seek to highlight a differentiated policy agenda across countries.
Anchoring Growth by Ms.Era Dabla-Norris,Giang Ho,Ms.Kalpana Kochhar,Ms.Annette J Kyobe,Mr.Robert Tchaidze Pdf
Fostering and sustaining robust economic growth is an imperative across advanced, emerging, and low-income countries alike. Countries will need to focus on supply-side reforms to raise their potential output and anchor medium-term growth prospects. This SDN will emphasize the role of structural reforms and supportive policy and institutional frameworks for boosting productivity–a key engine of economic growth–in the wake of the crisis. By examining a broad spectrum of reforms that eliminate impediments to growth, the paper will seek to highlight a differentiated policy agenda across countries.
Structural Reforms and Productivity Growth in Emerging Market and Developing Economies by Ms.Era Dabla-Norris,Giang Ho,Ms.Annette Kyobe Pdf
This paper empirically assesses the role of structural and institutional reforms in driving productivity growth across countries at different stages of development, using a distance-to-frontier framework. It gauges whether particular policies and reforms matter more for increasing productivity growth at the aggregate and sectoral levels for some emerging market and developing economies (EMDEs) than others. Recognizing the possibility of time lags between reform implementation and reform payoffs, the paper also examines how productivity gains from various reforms evolve over the the short- and medium-term.
Structural Transformation and the sophistication of Production by Mr.Nicola Spatafora,Rahul Anand,Mr.Saurabh Mishra Pdf
A new dataset on export sophistication reveals that in many countries the importance of modern services, and the sophistication of manufactured and service exports, has increased over time. However, this trend was less pronounced in LICs. Sophisticated sectors are more likely to act as a catalyst for broad-based economic growth, rather than turning into isolated enclaves, when the economy is liberalized, the exchange rate is not overvalued, and there are good information flows. An educated workforce, external liberalization, and good information flows are important prerequisites for developing sophisticated goods and services. An appropriate macroeconomic policy is particularly important for goods, skilled labor and good information flows for services.
China’s Productivity Convergence and Growth Potential—A Stocktaking and Sectoral Approach by Min Zhu,Ms.Longmei Zhang,Daoju Peng Pdf
China’s growth potential has become a hotly debated topic as the economy has reached an income level susceptible to the “middle-income trap” and financial vulnerabilities are mounting after years of rapid credit expansion. However, the existing literature has largely focused on macro level aggregates, which are ill suited to understanding China’s significant structural transformation and its impact on economic growth. To fill the gap, this paper takes a deep dive into China’s convergence progress in 38 industrial sectors and 11 services sectors, examines past sectoral transitions, and predicts future shifts. We find that China’s productivity convergence remains at an early stage, with the industrial sector more advanced than services. Large variations exist among subsectors, with high-tech industrial sectors, in particular the ICT sector, lagging low-tech sectors. Going forward, ample room remains for further convergence, but the shrinking distance to the frontier, the structural shift from industry to services, and demographic changes will put sustained downward pressure on growth, which could slow to 5 percent by 2025 and 4 percent by 2030. Digitalization, SOE reform, and services sector opening up could be three major forces boosting future growth, while the risks of a financial crisis and a reversal in global integration in trade and technology could slow the pace of convergence.
