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Structural Change in a Selection of Countries: Discussion and Conclusions

In: Structural Change, Economic Interdependence and World Development

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  • P. J. Lloyd

    (University of Melbourne)

Abstract

Structural changes in a selection of countries were discussed in terms of the ‘branch level’. The term ‘branch level’ refers to the level of sectors of an economy and the changes in their component industries. Structural changes at the level of industries are of interest to economists, it was felt, primarily because many of the resources employed are specific to the industries that employ them — that is, the capital and labour embody features or skills which cannot be transferred to other industries. The concern has been mainly with industries that are contracting and whose contraction reduces the incomes of the workers who possess industry-specific skills and the owners of the capital assets.

Suggested Citation

  • P. J. Lloyd, 1987. "Structural Change in a Selection of Countries: Discussion and Conclusions," International Economic Association Series, in: Luigi Pasinetti & Peter Lloyd (ed.), Structural Change, Economic Interdependence and World Development, chapter 17, pages 263-266, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-18840-6_17
    DOI: 10.1007/978-1-349-18840-6_17
    as

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