A structuralist North–South model on structural change,economic growth and catching-up |
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Authors: | Alberto Botta |
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Affiliation: | Department of Public Economics, University of Pavia, Corso Strada Nuova 65, 27100 Pavia, Italy |
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Abstract: | This paper presents a structuralist North–South model on structural change, industrialization and economic convergence. In a balance-of-payments-constrained macro-setting, we assume a cumulative process between industrialization and growth. Differently from the traditional post-Keynesian models, we endogenize the productive structure of developing countries. We enquire how industrialization affects uneven development and convergence processes. Multiple growth paths and a long-run path-dependent equilibrium emerge. Industrialization proves to be a necessary but not sufficient condition for catching-up. Good management by the domestic institutions of domestic industrialization is a complementary requirement. |
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