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Economic growth and restructuring: a test of unbalanced growth models - 1977-1992

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  • D. C. A. Curtis
  • K. S. R. Murthy

Abstract

A model adapted from Baumol (American Economic Review, 57, 1967, 415-426) is used to establish the determinants of growth in per capita commercial service sector output and this service sector's share of employment, based on the experience of Canada, the US, France and Germany. Parameter estimates obtained from the OECD data, for the period 1977-92, are used within the model framework to predict the output and employment dimensions of economic restructuring and growth. A comparison of model predictions with observations suggests the model can explain most of the observed service sector output growth, but it has less success explaining growth in employment shares. These results illustrate the difficulties of confronting the performance of simple models with empirical evidence and the challenge that remains in discovering additional explanations of economic restructuring.

Suggested Citation

  • D. C. A. Curtis & K. S. R. Murthy, 1998. "Economic growth and restructuring: a test of unbalanced growth models - 1977-1992," Applied Economics Letters, Taylor & Francis Journals, vol. 5(12), pages 777-780.
    • Handle: RePEc:taf:apeclt:v:5:y:1998:i:12:p:777-780
    DOI: 10.1080/135048598354014
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    Cited by:

    1. Andreas Dietrich, 2012. "Does growth cause structural change, or is it the other way around? A dynamic panel data analysis for seven OECD countries," Empirical Economics, Springer, vol. 43(3), pages 915-944, December.
    2. Dietrich, Andreas & Krüger, Jens J., 2010. "Numerical explorations of the Ngai-Pissarides model of growth and structural change," Darmstadt Discussion Papers in Economics 199, Darmstadt University of Technology, Department of Law and Economics.
    3. Pugno, Maurizio, 2006. "The service paradox and endogenous economic growth," Structural Change and Economic Dynamics, Elsevier, vol. 17(1), pages 99-115, January.
    4. Mehta, Aashish & Mohr, Belinda Acuña, 2012. "Economic Liberalization and Rising College Premiums in Mexico: A Reinterpretation," World Development, Elsevier, vol. 40(9), pages 1908-1920.
    5. Peter Mayerhofer & Peter Huber & Dieter Pennerstorfer, 2017. "Handel und Einzelhandel im Wiener Beschäftigungssystem. Arbeitsmarktrelevanz, Arbeitsplatzcharakteristika, absehbare Herausforderungen," WIFO Studies, WIFO, number 61951, February.
    6. Duo QIN, 2010. "Is China’s Rising Service Sector Leading to Cost Disease?," EcoMod2004 330600116, EcoMod.
    7. Schettkat, Ronald & Yocarini, Lara, 2006. "The shift to services employment: A review of the literature," Structural Change and Economic Dynamics, Elsevier, vol. 17(2), pages 127-147, June.
    8. Qin, Duo, 2006. "Is China's growing service sector leading to cost disease?," Structural Change and Economic Dynamics, Elsevier, vol. 17(3), pages 267-287, September.
    9. Bonatti, Luigi & Felice, Giulia, 2008. "Endogenous growth and changing sectoral composition in advanced economies," Structural Change and Economic Dynamics, Elsevier, vol. 19(2), pages 109-131, June.
    10. Andrés Maroto-Sanchez, 2010. "Growth and productivity in the service sector: The state of the art," Working Papers 07/10, Instituto Universitario de Análisis Económico y Social.

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