Long-run sectoral development: Time-series evidence for the German economy
AbstractIn economic development, long-run structural change among the three main sectors of an economy follows a typical pattern with the primary sector (agriculture, mining) first dominating, followed by the secondary sector (manufacturing) and finally by the tertiary sector (services) in terms of employment and value added. We reconsider the verbal theoretical work of Fourastié and build a simple model encompassing its main features, most notably the macroeconomic influences on the sectoral development. Estimation and analysis with German data for the period 1850-2001 show that this model is quite capable of replicating the empirical facts.
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Bibliographic InfoArticle provided by Elsevier in its journal Structural Change and Economic Dynamics.
Volume (Year): 21 (2010)
Issue (Month): 2 (May)
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Web page: http://www.elsevier.com/locate/inca/525148
Structural change Industrialization Tertiarization;
Other versions of this item:
- Andreas Dietrich & Jens J. Krüger, 2008. "Long-Run Sectoral Development - Time Series Evidence for the German Economy," Jena Economic Research Papers 2008-013, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
- L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
- O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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