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Sectoral Shift, Wealth Distribution, And Development

  • Yuki, Kazuhiro

There are two phenomena widely observed when an economy departs from an underdeveloped state and starts rapid economic growth. One is the shift of production, employment, and consumption from the traditional sector to the modern sector, and the other is a large increase in educational levels of its population. The question is why some economies have succeeded in such ’structural change’, but others do not. In order to examine the question, an overlapping generations model that explicitly takes into account the sectoral change and human capital accumulation as sources of development is constructed and analyzed.

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Article provided by Cambridge University Press in its journal Macroeconomic Dynamics.

Volume (Year): 12 (2008)
Issue (Month): 04 (September)
Pages: 527-559

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Handle: RePEc:cup:macdyn:v:12:y:2008:i:04:p:527-559_07
Contact details of provider: Postal: Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK
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