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Benchmarking Structural Transformation Across the World

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Author Info

  • Era Dabla-Norris
  • Alun H. Thomas
  • Rodrigo Garcia-Verdu
  • Yingyuan Chen

Abstract

This paper documents stylized facts on the process of structural transformation around the world and empirically analyzes its determinants using data on real value added by sector of economic activity (agriculture, manufacturing and services) for a panel of 168 countries over the period 1970-2010. The analysis points to large differences in sector shares both across and within regions as well as for countries at similar levels of economic development. Using both linear and quantile regression methods, it finds that a large proportion of the cross-country variation in sector shares can be accounted for by country characteristics, such as real GDP per capita, demographic structure, and population size. It also finds that policy and insitutional variables, such as product market reforms, openness to trade, human and physical capital, and finance improve the baseline model’s ability to account for the variation in sectoral shares across countries.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 13/176.

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Length: 44
Date of creation: 31 Jul 2013
Date of revision:
Handle: RePEc:imf:imfwpa:13/176

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Related research

Keywords: Productivity; Emerging markets; Low-income developing countries; Agricultural sector; Manufacturing sector; Services sector; Cross country analysis; Structural Transformation; Agriculture; Quantile Regression; Panel Data; globalization; gdp per capita; real gdp; economic globalization; economic growth; total factor productivity; trade liberalization; international trade; globalization period; globalization index; international financial; exchange rates; per capita income; modern economic growth; international financial statistics; per capita incomes; national income; rate of growth; per capita income levels; growth rates; foreign exchange; balanced economic growth; exchange policy;

References

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  1. Donghoon Lee & Kenneth I. Wolpin, 2006. "Intersectoral Labor Mobility and the Growth of the Service Sector," Econometrica, Econometric Society, Econometric Society, vol. 74(1), pages 1-46, 01.
  2. L. Rachel Ngai & Christopher Pissarides, 2004. "Structural change in a multi-sector model of growth," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library 3550, London School of Economics and Political Science, LSE Library.
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  5. Francisco J. Buera & Joseph P. Kaboski, 2012. "The Rise of the Service Economy," American Economic Review, American Economic Association, American Economic Association, vol. 102(6), pages 2540-69, October.
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  8. Margarida Duarte & Diego Restuccia, 2007. "The Role of the Structural Transformation in Aggregate Productivity," Working Papers, University of Toronto, Department of Economics tecipa-300, University of Toronto, Department of Economics.
  9. Arvind Subramanian & Raghuram Rajan & Ioannis Tokatlidis & Kalpana Kochhar & Utsav Kumar, 2006. "India's Pattern of Development," IMF Working Papers 06/22, International Monetary Fund.
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  11. Buera, Francisco J. & Kaboski, Joseph P., 2012. "Scale and the origins of structural change," Journal of Economic Theory, Elsevier, Elsevier, vol. 147(2), pages 684-712.
  12. Daron Acemoglu & Veronica Guerrieri, 2006. "Capital Deepening and Non-Balanced Economic Growth," NBER Working Papers 12475, National Bureau of Economic Research, Inc.
  13. Echevarria, Cristina, 1997. "Changes in Sectoral Composition Associated with Economic Growth," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(2), pages 431-52, May.
  14. El-hadj M. Bah, 2011. "Structural Transformation Paths Across Countries," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., M.E. Sharpe, Inc., vol. 47(0), pages 5-19, May.
  15. Alessandro Prati & Massimiliano Gaetano Onorato & Chris Papageorgiou, 2013. "Which Reforms Work and under What Institutional Environment? Evidence from a New Data Set on Structural Reforms," The Review of Economics and Statistics, MIT Press, vol. 95(3), pages 946-968, July.
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