We study a model designed to understand the concept of unbalanced growth. We define leading sectors to be those that raise the profits from industrialization for other sectors the most. We identify the leading sectors and show that subsidizing them in sequences will raise welfare if the future is not discounted too strongly.
|Date of creation:||Nov 2004|
|Date of revision:|
|Publication status:||published as Krishna, Kala and Cesar A. Perez. "Unbalanced Growth," Canadian Journal of Economics, 2005, v38(3,Aug), 832-851.|
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