Description: Industrial Structure, Appropriate Technology and Economic Growth in Less Developed Countries

Industrial Structure, Appropriate Technology and Economic Growth in Less Developed Countries

The authors develop an endogenous growth model that combines structural change with repeated product improvement. That is, the technologies in one sector of the model become not only increasingly capital-intensive, but also progressively productive...

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Bibliographic Details
Main Authors:	Lin, Justin Yifu, Zhang, Pengfei
Language:	English
Published:	2012
Subjects:	ADVANCED COUNTRIES AGGREGATE PRODUCTION FUNCTION AGGREGATIVE MODEL AGRICULTURE ALLOCATION APPROPRIATE TECHNOLOGIES APPROPRIATE TECHNOLOGY AUTOMOTIVE BALANCED ECONOMIC GROWTH BALANCED GROWTH BASIC CAD CAPITAL ACCUMULATION CAPITAL FORMATION CAPITAL STOCK CAPITAL-LABOR CAPITAL-LABOR RATIO CAPITALISM COMPARATIVE ADVANTAGE COMPETITIVE MARKET CONSTANT ELASTICITY CONSTANT RATE CONSUMPTION GOODS DEMAND FUNCTIONS DEMOCRACY DEVELOPED ECONOMIES DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT STRATEGY DIFFERENTIAL EQUATIONS DIMINISHING RETURNS DISCOUNT RATE ECONOMIC COOPERATION ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC IMPLICATIONS ECONOMIC INSTITUTIONS ECONOMIC PERFORMANCE ECONOMIC REFORM ECONOMIC REVIEW ECONOMIC STUDIES ELASTICITY ELASTICITY OF SUBSTITUTION ENDOGENOUS GROWTH ENDOGENOUS GROWTH MODEL ENDOGENOUS INNOVATION EQUILIBRIUM EVOLUTION OF TECHNOLOGY EXPANDING VARIETY EXPECTED PRESENT VALUE FACTOR DEMAND FACTOR ENDOWMENTS FACTORS OF PRODUCTION FINANCIAL SECTOR GLOBAL ECONOMY GROWTH LITERATURE GROWTH MODEL GROWTH OF NATIONS GROWTH RATE GROWTH RATES GROWTH THEORY INCOMES INCREASING RETURNS INDEXES INNOVATIONS INTERMEDIATE GOODS INTERNATIONAL TRADE KNOW-HOW LABOR FORCE LABOR MARKET LDCS LESS DEVELOPED COUNTRIES LESS DEVELOPED COUNTRY LONG-RUN GROWTH LONG-RUN POLICY MACROECONOMICS MODEL OF GROWTH MODERN ECONOMIC GROWTH MONETARY ECONOMICS MONOPOLY NEOCLASSICAL ECONOMICS NEOCLASSICAL GROWTH NEOCLASSICAL GROWTH THEORY NOMINAL INTEREST RATE OLIGOPOLY OPTIMIZATION OPTIMUM GROWTH PATENTS PER CAPITA INCOME POLICY ANALYSIS POLICY IMPLICATIONS POLICY MEASURES POLICY RESEARCH POLITICAL ECONOMY POPULATION GROWTH PRODUCTION FUNCTION PRODUCTION FUNCTIONS PROFIT MAXIMIZATION PUBLIC POLICY RAPID GROWTH RELATIVE IMPORTANCE RENT SEEKING RISK AVERSION SAVINGS SECTOR MODEL SOCIAL DEVELOPMENT SOCIALISM STATIC EQUILIBRIUM STRUCTURAL CHANGE TECHNICAL CHANGE TECHNICAL PROGRESS TECHNOLOGICAL CHANGE TECHNOLOGICAL PROGRESS TFP TOTAL FACTOR PRODUCTIVITY UTILITY FUNCTION VARIABLE INPUTS
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090416150001 http://hdl.handle.net/10986/4098

Description
Summary:	The authors develop an endogenous growth model that combines structural change with repeated product improvement. That is, the technologies in one sector of the model become not only increasingly capital-intensive, but also progressively productive over time. Application of the basic model to less developed economies shows that the (optimal) industrial structure and the (most) appropriate technologies in less developed economies are endogenously determined by their factor endowments. A firm in a less developed country that enters a capital-intensive, advanced industry in a developed country would be nonviable owing to the relative scarcity of capital in the factor endowments of less developed countries.

Industrial Structure, Appropriate Technology and Economic Growth in Less Developed Countries

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