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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. In this study, the author identifies different routes to structural transformation that we see in the developing world. They address the theoretical, empirical and policy implications of the 'varieties of structural transformation' in low and middle income countries. Firstly, using a comparable high-quality dataset, they set out the stylized facts of structural transformation across the developing world. Secondly, they assess the classical and neoclassical approaches to structural transformation and review the recent theoretical developments in the literature. Thirdly, they undertake descriptive and econometric analysis of the drivers of structural transformation, and the relationship between structural transformation and inequality. Finally, they assess the policy implications of our study for developing countries. This title is also available as Open Access on Cambridge Core.
List of contents
1. Setting the Stage; 2. Theories of Structural Transformation; 3. A Typology of Stages of Structural Transformation; 4. Patterns of Structural Transformation; 5. Drivers of Structural Transformation; 6. The Kuznets Process: Structural Transformation and Inequality; 7. So What Have We Learned?.
Summary
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.
Foreword
Argues that the conventional path of structural transformation may not be the only route to economic development in contemporary settings.
