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Publications (18)
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– The case of Brazil
Through rapid urbanization, Brazil—previously a country where most workers were in the agricultural sector—went through a strong process of structural transformation that lasted almost four decades until economic liberalization at the beginning of the 1990s. During the same period, income inequality...
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This paper evaluates structural change, inequality dynamics, and industrial policy in South Africa between 1960 and the present day. We find that South Africa experienced growth-enhancing structural transformation until the early 1970s, before entering a period of premature deindustrialization...
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– Structural transformation and inclusive growth in Thailand
Between 1981 and 2017, real gross domestic product in Thailand grew at an average annual rate of 5.7 per cent. Agricultural output grew more slowly than industry or services, and its gross domestic product share consequently declined. Industry’s gross domestic product share increased, and the share...
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The Bangladesh economy has undergone significant structural changes over the last four decades. The share of agriculture in GDP has declined, while the significance of industry and service sectors has increased. These structural changes have been associated with persistent challenges such as lack of...
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This study examines the structural transformation–inclusive growth nexus for Ghana. The data cover the post-independence period for Ghana and are phased into three periods: the post-independence period to the start of the economic recovery programme (ERP) and structural adjustment programme (SAP)...
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– A survey of structural transformation and inequality dynamics
This paper discusses the ‘developer’s dilemma’—a tension emerging from the fact that developing countries are simultaneously seeking structural transformation and broad-based growth to raise incomes of the poor. Simon Kuznets originally hypothesized that structural transformation may have a tendency...
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In this paper, we analyse the relationship between China’s structural transformation and the inclusiveness of its economic growth. China’s economy has undergone significant structural changes since it initiated the economic reforms in 1978. Economic activities have shifted from the low-productivity...
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– Kuznets’ ‘developer’s dilemma’ in Indonesia
We focus on special characteristics of the manufacturing sector, in terms of employment generation and productivity growth, that enable the rapid, resilient economic catch-up of developing countries. We consider the ‘developer’s dilemma’ and the relationship between manufacturing value added or...
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– The future of structural change in the developing world
This paper traces a set of major trends and future scenarios in global structural change. It argues that across multiple domains of change, developing economies are facing novel constellations of lateness and prematurity in technological and economic development. The paper explores these novel...
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– Two episodes
Developing countries face a trade-off between the twin objectives of structural transformation and inclusive growth. This is the ‘developer’s dilemma’. This study analyses the dilemma as it manifested itself in the Indian context, and identifies two distinct episodes over the post-independence...
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– The case of Chile
This paper describes the structural transformations that Chile has experienced in the last 50 years and how they have contributed—or not—to inclusive growth and genuine economic modernization from a historical perspective. The empirical analysis of the paper shows a premature deindustrialization...
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– The case of Indonesia
Discussions on the developing world’s industrial policies have largely neglected the role of state-owned entities. This paper argues that the resurgence of state capitalism has been, in part, the response of developing countries to the recent pattern of structural transformation involving weak...
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The purpose of this paper is to explore economic and political implications of Europe's Economic and Monetary Union (EMU) for developing countries. In strictly economic terms, influences will be communicated through both trade and financial channels. Economies in the developing world will be...
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– Retrospect and Prospect
The management of international reserves remains one of the understudied aspects of the international monetary system. There are now a number of reasons why this should change. On the supply side of the market there is the advent of the euro, creating a full-fledged rival to the dollar for the first...
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The partial effect of nominal exchange rate volatility on exports from each EMU member to the rest of the EMU is estimated on annual data for 1967-97, using modern time-series methods. The long-run relations between exchange rate volatility and exports are mostly negative and in several cases...
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– Commitment, institutional Capacity and the Monetary-Fiscal Mix
An interesting theory of transition must give a convincing account of structural adjustment and supply side improvement. In this paper, I discuss the incentives for government to undertake costly supply side improvement and how these relate to incentives governing the design of monetary and fiscal...
Displaying 16 of 18 results