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Activation of a Modern Industry

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Author Info
Ping Wang () (Department of Economics, Vanderbilt University and NBER)
Danyang Xie (International Monetary Fund and Hong Kong University of Science and Technology)

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Abstract

This paper constructs an integrated framework to disentangle the underlying economic mechanism of industrial transformation. We consider three essential elements for the analysis: skill requirements, industry wide spillovers and degrees of consumption subsistence. We find that human and nonhuman resources, production factor matching and industrial coordination are all important for activating a modern industry. In the process of industrial transformation, job destruction may exceed job creation, and income distribution may get worse immediately following the activation of a modern industry. An array of policy prescriptions for advancing a poor country are provided.

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File URL: http://www.vanderbilt.edu/Econ/wparchive/workpaper/vu01-w35.pdf
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File Function: First version, 2001
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Paper provided by Department of Economics, Vanderbilt University in its series Working Papers with number 0135.

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Date of creation: Dec 2001
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Handle: RePEc:van:wpaper:0135

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Find related papers by JEL classification:
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity
O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
D33 - Microeconomics - - Distribution - - - Factor Income Distribution

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  1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-37, October. [Downloadable!] (restricted)
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  3. Laitner, John, 2000. "Structural Change and Economic Growth," Review of Economic Studies, Blackwell Publishing, vol. 67(3), pages 545-61, July.
  4. Chow, Gregory C, 1993. "Capital Formation and Economic Growth in China," The Quarterly Journal of Economics, MIT Press, vol. 108(3), pages 809-42, August. [Downloadable!] (restricted)
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  5. Stephen L. Parente & Edward C. Prescott, 1999. "Monopoly Rights: A Barrier to Riches," American Economic Review, American Economic Association, vol. 89(5), pages 1216-1233, December. [Downloadable!] (restricted)
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  6. Kiminori Matsuyama, 1990. "Increasing Returns, Industrialization and Indeterminacy of Equilibrium," Discussion Papers 878, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
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  7. Kaneda Mitsuhiro, 1995. "Industrialization under Perfect Foresight: A World Economy with a Continuum of Countries," Journal of Economic Theory, Elsevier, vol. 66(2), pages 437-462, August. [Downloadable!] (restricted)
  8. Boyan Jovanovic, 1998. "Vintage Capital and Inequality," NBER Working Papers 6416, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  9. Horrell, Sara, 1996. "Home Demand and British Industrialization," The Journal of Economic History, Cambridge University Press, vol. 56(03), pages 561-604, September. [Downloadable!]
  10. Dowrick, Steve & Gemmell, Norman, 1991. "Industrialisation, Catching Up and Economic Growth: A Comparative Study across the World's Capitalist Economies," Economic Journal, Royal Economic Society, vol. 101(405), pages 263-75, March. [Downloadable!] (restricted)
  11. Murphy, Kevin M & Shleifer, Andrei & Vishny, Robert W, 1989. "Industrialization and the Big Push," Journal of Political Economy, University of Chicago Press, vol. 97(5), pages 1003-26, October. [Downloadable!] (restricted)
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  12. Chen, Been-Lon & Shimomura, Koji, 1998. "Self-Fulfilling Expectations and Economic Growth: A Model of Technology Adoption and Industrialization," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(1), pages 151-70, February.
  13. Peretto, Pietro F., 1999. "Industrial development, technological change, and long-run growth," Journal of Development Economics, Elsevier, vol. 59(2), pages 389-417, August. [Downloadable!] (restricted)
  14. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July. [Downloadable!] (restricted)
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  1. Yuki, Kazuhiro, 2007. "Sectoral Shift, Wealth Distribution, and Development," MPRA Paper 3384, University Library of Munich, Germany. [Downloadable!]
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