The Drivers of Structural Changes

Journal: Modern Economics & Management Forum DOI: 10.32629/memf.v1i2.149

Jianfang Liu

Peking University

Abstract

Structural change is an important feature in the process of economic growth. Most economies in the process of economic growth have appeared similar structural adjustment. The primary industry labor share declines; the tertiary industry labor share increases; the secondary industry labor share presents an inverted u-shaped change. This paper aims to analyze the driving mechanism of structural transformation from the perspectives of supply, demand, input and output, international trade and government public expenditure, and finally make a prospect for future structural transformation research from the perspectives of producer heterogeneity and consumer heterogeneity as well as the fourth wave of technological change — artificial intelligence.

Keywords

structural change, supply, demand, input-output, international trade, government policy

Full Text

PDF - Viewed/Downloaded: 36 Times

Indexation

Download Index Record

References

[1] Acemoglu D., Guerrieri V. Capital deepening and non-balanced economic growth. Journal of Political Economy. 2008; 116(3): 467-498.
[2] Alvarez-Cuadrado F, Long Ngo Van, Poschke M. Capital-labor substitution, structural change and growth. Theoretical Economics. 2017; 12(3): 1229-1266.
[3] Alonso-Carrera J., Caballé J., Raurich X. (2011) Sectoral composition and macroeconomic dynamics. Barcelona GSE Working Paper Series. No. 545, Barcelona Graduate School of Economics.
[4] Comin D, Lashkari D, Mestieri M. (2015) Structural change with long-run income and price effects. NBER Working Paper. No. w21595, Available at SSRN: https://ssrn.com/abstract=2666363.
[5] Yan Chengliang. Changes in industrial structure, economic growth and regional development gap. Party and government field of vision. 2016; (10): 59.
[6] Yan Chengliang, Wu Yingjun, Yang Longjian. Financial expenditure and changes in industrial structure. Economic Science. 2016; (1): 5-16.
[7] Foellmi R., Zweimüller J. Structural change, Engel’s consumption cycles and Kaldor’s facts of economicgrowth. Journal of Monetary Economics. 2008; 55(7): 1317-1328.
[8] Hori T., Ikefuji M., Mino K. Conformism and Structural Change. International Economic Review. 2015; 56(3): 939-961.
[9] Kongsamut P., Rebelo S., Xie D. Beyond balanced growth. Review of Economic Studies. 2001; 68(237): 869-882.
[10] Matsuyama K. Structural change in an interdependent world: a global view of manufacturing decline. Journal of the European Economic Association. 2009; 7(2-3): 478-486.
[11] Zhang Lifeng. A multi-sector model of public expenditure and growth. Journal of Economics. 2015; 115(1): 73-93.
[12] Li Shangao, Gong Liutang. Nonhomothetic preference, endogenous preference structure, and structural change. Economic Research Journal. 2012; (7): 35-47.
[13] Ngai L.R., Pissarides C.A. Structural change in a multi-sector model of growth. American Economic Review. 2007; 97(1): 429-445.
[14] Mao Rui, Yao Yang. Structural change in an open economy. Pacific Economic Review. 2012; 17(1): 29-56.
[15] Sposi M. Evolving comparative advantage, sectoral linkages, and structural change. Journal of Monetary Economics. 2019; 103: 75-87.
[16] Chen Tibiao. Sectoral difference in growth rate of technology and change in economic growth rate with hump-shape. Economic Research Journal. 2008; (11): 102-111.
[17] Uy T., Yi K-M., Zhang J. Structural change in an open economy. Journal of Monetary Economics. 2013; 60(6): 667-682.

Citing this article:

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License