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Restructuring and Economic Growth in OECD Countries: 1964-1992

Author

Listed:
  • D.C.A Curtis

    (Department of Economics, Trent University)

  • K.S.R. Murthy

    (Department of Economics, Trent University)

Abstract

The contribution that restructuring between goods producing and service producing sectors, together with service sector employment and output growth, makes to aggregate growth are examined empirically in this paper. Estimates of the total effect, and the component externality and employment re-allocation effects of service sector growth, are derived from two sector growth models, developed as extensions from Feder (1982). For a sample of fourteen industrialized OECD countries, over the 1964-1992 period, the results provide strong support for the argument that restructuring from goods to services makes a strong positive contribution to real GDP growth rates.

Suggested Citation

  • D.C.A Curtis & K.S.R. Murthy, 1999. "Restructuring and Economic Growth in OECD Countries: 1964-1992," Eastern Economic Journal, Eastern Economic Association, vol. 25(1), pages 17-30, Winter.
    • Handle: RePEc:eej:eeconj:v:25:y:1999:i:1:p:17-30
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    Keywords

    Economic Growth; Growth;

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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