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Economic Development and the Division of Production between Households and Markets

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Author Info
Locay, Luis
Abstract

A model is presented in which scale economies give market production a cost advantage over household production, but in which market production is limited by the extent of the market. The author views the production process as a series of stages, each further refining and specializing the product of the previous stage. As processing proceeds, the number of intermediate goods increases and markets thin out. Firms specialize in the early stages of production and households in the later stages. As an economy grows, production shifts out of households and into the market. Several other changes associated with economic development are also accounted for. Copyright 1990 by University of Chicago Press.

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Article provided by University of Chicago Press in its journal Journal of Political Economy.

Volume (Year): 98 (1990)
Issue (Month): 5 (October)
Pages: 965-82
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Handle: RePEc:ucp:jpolec:v:98:y:1990:i:5:p:965-82

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  1. Marvin Goodfriend & John McDermott, 1994. "Early development," Working Paper 94-02, Federal Reserve Bank of Richmond. [Downloadable!]
    Other versions:
  2. Stephen L. Parente & Richard Rogerson & Randall Wright, 1999. "Household production and development," Economic Review, Federal Reserve Bank of Cleveland, issue Q III, pages 21-35. [Downloadable!]
  3. Thomas J. Holmes, 1995. "Localization of industry and vertical disintegration," Staff Report 190, Federal Reserve Bank of Minneapolis. [Downloadable!]
    Other versions:
  4. Vladislav Valentinov, 2006. "Nonprofit Organization and the Division of Labor: A Theoretical Perspective," Atlantic Economic Journal, International Atlantic Economic Society, vol. 34(4), pages 435-447, December. [Downloadable!] (restricted)
  5. Schettkat, Ronald, 2003. "Differences in US-German Time-Allocation: Why Do Americans Work Longer Hours than Germans?," IZA Discussion Papers 697, Institute for the Study of Labor (IZA). [Downloadable!]
  6. John Anderson & Hendrik van den Berg, 1998. "Fiscal Decentralization and Government Size: An International Test for Leviathan Accounting for Unmeasured Economic Activity," International Tax and Public Finance, Springer, vol. 5(2), pages 171-186, May. [Downloadable!] (restricted)
  7. Guangzhen Sun & Xiaokai Yang & Shuntian Yao, 1999. "Theoretical Foundation of Economic Development Based on Networking Decisions in the Competitive Market," CID Working Papers 16, Center for International Development at Harvard University. [Downloadable!]
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  8. Francisco J. Buera & Joseph Kaboski, 2008. "Scale and the origins of structural change," Working Paper Series WP-08-06, Federal Reserve Bank of Chicago. [Downloadable!]
  9. James H. Anderson & Roger R. Betancourt, 1999. "The Distribution Sector and the Development Process: Are There Patterns? Yes," Electronic Working Papers 99-007, University of Maryland, Department of Economics. [Downloadable!]
    Other versions:
  10. Danny Givon, 2006. "Factor Replacement versus Factor Substitution, Mechanization and Asymptotic Harrod Neutrality," DEGIT Conference Papers c011_028, DEGIT, Dynamics, Economic Growth, and International Trade. [Downloadable!]
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