Development Strategy, Viability, and Economic Convergence

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Development Strategy, Viability, and Economic Convergence

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Justin Yifu Lin

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Justin Yifu Lin

Abstract

The paper argues that an economy's industry/technology structure is endogenously determined by the economy's endowment structure. For the convergence to occur, the government of an LDC should target the upgrading of endowment structure instead of the industry/technology structure in its development strategy. If the government chooses to pursue an industry/technology structure, which is inconsistent with the comparative advantage determined by the economy's endowment structure, the firms in the government's priority sectors will be nonviable and the government needs to suppress the function of market and distort all kinds of prices as a way to protect the nonviable firms. Convergence will fail to occur as a result. Regression results from cross-country panel data are consistent with the predictions of the above arguments.

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Paper provided by William Davidson Institute at the University of Michigan Stephen M. Ross Business School in its series William Davidson Institute Working Papers Series with number 409.

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Date of creation: 01 Oct 2001
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Handle: RePEc:wdi:papers:2000-409

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Article
- Lin, Justin Yifu, 2003. "Development Strategy, Viability, and Economic Convergence," Economic Development and Cultural Change, University of Chicago Press, vol. 51(2), pages 276-308, January.
- Lin, Justin Yifu, 2003. "Development Strategy, Viability, and Economic Convergence," Economic Development and Cultural Change, University of Chicago Press, vol. 51(2), pages 276-308, January.

References listed on IDEAS
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Justin Lifu Lin, 2004. "Development Strategies for Inclusive Growth in Developing Asia," Development Economics Working Papers 444, East Asian Bureau of Economic Research. [Downloadable!]
Bigsten, Arne & Durevall, Dick, 2004. "Kenya’s Development Path and Factor Prices 1964-2000," Working Papers in Economics 142, Göteborg University, Department of Economics. [Downloadable!]
Zhang, Xiaobo, 2006. "Asymmetric property rights in China's economic growth:," DSGD discussion papers 28, International Food Policy Research Institute (IFPRI). [Downloadable!]

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