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Developing and Transition Economies in the Late 20th Century: Diverging Growth Rates, Economic Structures, and Sources of Demand

Author

Listed:
  • Codrina Rada
  • Lance Taylor

Abstract

This study reviews the growth and development performance of developing countries in the latter part of the 20th century. Sustained growth among “successful” countries was accompanied by structural change in terms of output and labour share shifts, trade diversification, sustained productivity growth with some strong reallocation effects due to movements of labour from low to high productivity sectors. Neither the widely accepted “twin deficits” nor the “consumption-smoothing” behaviour views of macro adjustment seem to apply, though macroeconomic flexibility may be very important. Finally, neither human capital accumulation nor foreign direct investment are sufficient, by themselves, to stimulate growth.

Suggested Citation

  • Codrina Rada & Lance Taylor, 2006. "Developing and Transition Economies in the Late 20th Century: Diverging Growth Rates, Economic Structures, and Sources of Demand," Working Papers 34, United Nations, Department of Economics and Social Affairs.
  • Handle: RePEc:une:wpaper:34
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    File URL: http://www.un.org/esa/desa/papers/2006/wp34_2006.pdf
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    References listed on IDEAS

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    1. Rada, Codrina & Taylor, Lance, 2006. "Empty sources of growth accounting, and empirical replacements a la Kaldor and Goodwin with some beef," Structural Change and Economic Dynamics, Elsevier, vol. 17(4), pages 486-500, December.
    2. Lance Taylor & Codrina Rada, 2007. "CAN THE POOR COUNTRIES CATCH UP? MIXED RESULTS FROM EXTENDED SOURCES OF GROWTH PROJECTIONS FOR THE EARLY 21 st CENTURY," Metroeconomica, Wiley Blackwell, vol. 58(1), pages 127-154, February.
    3. Erik S. Reinert, 2006. "Development and Social Goals: Balancing Aid and Development to Prevent ‘Welfare Colonialism’," Working Papers 14, United Nations, Department of Economics and Social Affairs.
    4. Robert E. Lucas, 2000. "Some Macroeconomics for the 21st Century," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 159-168, Winter.
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    Cited by:

    1. Risti Permani, 2009. "The Role of Education in Economic Growth in East Asia: a survey," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 23(1), pages 1-20, May.
    2. Hongyi Li & Huang Liang, 2010. "Health, education, and economic growth in East Asia," Journal of Chinese Economic and Foreign Trade Studies, Emerald Group Publishing, vol. 3(2), pages 110-131, June.
    3. Kutan, Ali M. & Yigit, Taner M., 2009. "European integration, productivity growth and real convergence: Evidence from the new member states," Economic Systems, Elsevier, vol. 33(2), pages 127-137, June.
    4. Silva, Ester G. & Teixeira, Aurora A.C., 2008. "Surveying structural change: Seminal contributions and a bibliometric account," Structural Change and Economic Dynamics, Elsevier, vol. 19(4), pages 273-300, December.
    5. Codrina Rada, 2007. "A growth model for a two-sector economy with endogenous productivity," Working Papers 44, United Nations, Department of Economics and Social Affairs.
    6. Ester G. Silva & Aurora A. C. Teixeira, 2011. "Does structure influence growth? A panel data econometric assessment of "relatively less developed" countries, 1979--2003," Industrial and Corporate Change, Oxford University Press, vol. 20(2), pages 457-510, April.
    7. Rolph van der Hoeven, 2010. "Labour Markets Trends, Financial Globalization and the current crisis in Developing Countries," Working Papers 99, United Nations, Department of Economics and Social Affairs.
    8. van der Hoeven, Rolph, 2012. "Development Aid and Employment," WIDER Working Paper Series 107, World Institute for Development Economic Research (UNU-WIDER).

    More about this item

    Keywords

    economic development; structural change; comparative studies; development policy;

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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