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Revisiting Kaldor'S Laws: The Symbiosis Between Manufacturing And Services In Economic Growth

Author

Listed:
  • Wallace P. Marcelino

    (UFPA)

  • Fabrício Missio

    (Cedeplar/UFMG)

  • Frederico G. Jayme Jr

    (Cedeplar/UFMG)

Abstract

This paper revisits Kaldor's Laws, considering that both manufacturing and services, as well as their interaction (symbiosis), contribute to economic growth. To investigate this question, we constructed a symbiosis indicator and tested it econometrically using panel data models for a sample of 41 countries between 2000 and 2014. The results show that the services sector and the symbiosis between manufacturing and modern services are subject to Kaldor's Laws. It is concluded that the modern services sector is important for economic growth during this period and that the new stage of structural change is characterized by increased returns to scale (expanded Kaldor-Verdoorn Law).

Suggested Citation

  • Wallace P. Marcelino & Fabrício Missio & Frederico G. Jayme Jr, 2025. "Revisiting Kaldor'S Laws: The Symbiosis Between Manufacturing And Services In Economic Growth," Textos para Discussão Cedeplar-UFMG 681, Cedeplar, Universidade Federal de Minas Gerais.
    • Handle: RePEc:cdp:texdis:td681
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    File URL: https://www.cedeplar.ufmg.br/pesquisas/td/TD%20681.pdf
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    More about this item

    Keywords

    Modern services; Increasing Returns; Kaldor's Laws; Symbiosis; Economic Growth;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • L80 - Industrial Organization - - Industry Studies: Services - - - General

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