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A model of development with structural and technological change

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  • João Romero

    (Land Economy Department)

  • Gustavo Britto

    (Cedeplar-UFMG)

  • Frederico Jayme Jr.

    (Cedeplar-UFMG)

Abstract

The paper proposes a new model of development to describe a process of structural change of a dual economy. By introducing a novel sectoral division of the economic system into a low and a high-tech sector, the model builds on previous formulations and formalizes both a structure and a process of development which encompassing simultaneously the four main constraints to development found in the literature: structural heterogeneity, low capacity to investment and to innovate, balance of payments constraints, and income inequality. In doing so, the construction integrates different strands of the economic literature concerned with development and growth.

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Bibliographic Info

Paper provided by Cedeplar, Universidade Federal de Minas Gerais in its series Textos para Discussão Cedeplar-UFMG with number 479.

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Length: 26 pages
Date of creation: Jun 2013
Date of revision:
Handle: RePEc:cdp:texdis:td479

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Related research

Keywords: Dual economies; balance-of-payments constrained growth; income distribution; structural change.;

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References

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  1. Raphael Rocha Gouvêa & Gilberto Tadeu Lima, 2011. "Structural Change,Balance-of-Payments Constraint and Economic Growth: Evidence from the Multi-Sectoral Thirlwall’s Law," Anais do XXXVII Encontro Nacional de Economia [Proceedings of the 37th Brazilian Economics Meeting], ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of 74, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
  2. Richard R. Nelson & Sidney G. Winter, 2002. "Evolutionary Theorizing in Economics," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 16(2), pages 23-46, Spring.
  3. Bhaduri, Amit & Marglin, Stephen, 1990. "Unemployment and the Real Wage: The Economic Basis for Contesting Political Ideologies," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 14(4), pages 375-93, December.
  4. Freeman, Chris, 1995. "The 'National System of Innovation' in Historical Perspective," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 19(1), pages 5-24, February.
  5. Eduardo da Motta e Albuquerque, 2007. "Inadequacy of technology and innovation systems at the periphery," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 31(5), pages 669-690, September.
  6. Mario Cimoli & Gabriel Porcile & Sebastián Rovira, 2010. "Structural change and the BOP-constraint: why did Latin America fail to converge?," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 34(2), pages 389-411, March.
  7. Anthony Philip Thirlwall, 1979. "The Balance of Payments Constraint as an Explanation of International Growth Rate Differences," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, Banca Nazionale del Lavoro, vol. 32(128), pages 45-53.
  8. Fagerberg, Jan, 1988. "International Competitiveness," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 98(391), pages 355-74, June.
  9. Ha-Joon Chang, 2002. "Breaking the mould: an institutionalist political economy alternative to the neo-liberal theory of the market and the state," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 26(5), pages 539-559, September.
  10. Fagerberg, Jan, 1994. "Technology and International Differences in Growth Rates," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 32(3), pages 1147-75, September.
  11. Paulo Gala, 2008. "Real exchange rate levels and economic development: theoretical analysis and econometric evidence," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 32(2), pages 273-288, March.
  12. Codrina Rada, 2007. "Stagnation or transformation of a dual economy through endogenous productivity growth," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 31(5), pages 711-740, September.
  13. Ricardo Azevedo Araujo & Gilberto Tadeu Lima, 2006. "A Structural Economic Dynamics Approach To Balance-Of-Payments-Constrained Growth," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting], ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of G 119, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
  14. Fagerberg, Jan, 1988. "International Competitiveness: Errata," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 98(393), pages 1203, December.
  15. Eckhard Hein & Lena Vogel, 2008. "Distribution and growth reconsidered: empirical results for six OECD countries," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 32(3), pages 479-511, May.
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