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Activation of a modern industry

  • Wang, Ping
  • Xie, Danyang

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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Article provided by Elsevier in its journal Journal of Development Economics.

Volume (Year): 74 (2004)
Issue (Month): 2 (August)
Pages: 393-410

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Handle: RePEc:eee:deveco:v:74:y:2004:i:2:p:393-410
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