Abstract
ABSTRACT This paper describes an emerging literature in economics that aims to merge macro issues of structural change and growth with micro data and analysis. This literature focuses on a set of related patterns of change that accompany the processes of growth and development. Traditionally, the focus has been on industrialization – and more broadly the reallocation of employment and economic activity from agriculture to manufacturing and services. The new literature considers a broader set of transformations: from rural to urban, from home to market (and from market to home), from informal to formal, and from self-employment to wage work. Drawing on new data sources, including micro data and administrative records, the literature tries to understand the complex interactions of a broad set of market failures, policy distortions, and impediments to the growth process. In broadening the understanding of structural transformation – to encompass processes beyond industrialization – this literature opens the door to a richer understanding of the processes of growth and a wider set of potential levers for policy.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
