Beyond Balanced Growth

Kongsamut, Piyabha; Rebelo, Sérgio; Xie, Danyang

doi:10.2139/ssrn.879617

Cited by 38 publications

(53 citation statements)

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“…However, this may not always be the case for other sectors, such as agricultural and manufacturing, as suggested by the literature on structural change (see, e.g., Kongsamut, Rebelo and Xie (2001), among others).…”

Section: Iii4 Measures Of Domestic Services Development (D)mentioning

confidence: 95%

Services Development and Comparative Advantage in Manufacturing

Liu

Mattoo

Wang

et al. 2018

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The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

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Section: Iii4 Measures Of Domestic Services Development (D)mentioning

confidence: 95%

Services Development and Comparative Advantage in Manufacturing

Liu

Mattoo

Wang

et al. 2018

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show abstract

“…According to the study by Kongsamut et al (2001) and Ngai and Pissarides (2007), we assume that the product of section i is only consumer goods, and section m produces capital and consumer goods. so:…”

Section: Model Specificationmentioning

confidence: 99%

Investigating the Effect of Structural Changes and Trade Liberalization on Total Factor Productivity in Iran (1991-2018)

2021

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Structural change plays an important role in developing any economy, so understanding it is critical to make policies that increase total factor productivity. The structural change that leads to an efficient resource allocation after trade reforms is desirable; the key factor that can affect the relation of "structural change and trade liberalization" with productivity is the quality of institutions. In this study, we first use the principal component method to propose a multidimensional index for structural change and then apply the ARDL econometrics model to evaluate the effect of trade liberalization and structural changes on total factor productivity in Iran during 1991-2018. The results show that structural changes increase the total factor productivity, and trade liberalization has a positive and significant effect on total factor productivity in the short term. Our results also indicate that there is no long-run relationship in this period.

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“…In this paper, we follow a strand of literature endogenizing TFP. 6 These papers argue how technological change, as in Aghion and Howitt (1998), Grossman and Helpman (1991), Romer (1990), impediments to new technology adoption, as in Parente and Prescott (1996), externalities, as in Romer (1986) and Lucas (1988), sectoral development, as in Kongsamut et al (2001), cost reductions, as in Harberger (1998), and the importance of institutions, as in Banerjee and Duflo (2005), Restuccia andRogerson (2008), andHsieh andKlenow (2008) affect the aggregate TFP. We also endogenize TFP and by doing so, we provide a theoretical explanation of why recessions may have a "cleansing effect" on TFP and why business cycle fluctuations can arise endogenously.…”

Section: Literature Reviewmentioning

confidence: 99%

Misallocation of Resources, Total Factor Productivity, and the Cleansing Hypothesis

Vachadze

2020

Macroecon. Dynam.

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Imperfections in the credit market can hamper the flow of factors from less productive to more productive firms and result in a lower aggregate total factor productivity (TFP). Depth of such misallocation will depend on per capita income, the level of imperfections in the credit market, and the distribution of entrepreneurial productivity. Under some parameter configurations, we find that per capita income and TFP may affect each other so that an economic boom may cause higher resource misallocation, lower TFP, and economic recession. At the same time, an economic recession may have a “cleansing effect” on TFP leading to a lower resource misallocation, higher TFP, and economic boom. In other words, economic success may breed the failure and the failure can become a precondition for success so that the boom-bust cycles in resource misallocation, TFP, and per capita income may become endogenous.

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Beyond Balanced Growth

Cited by 38 publications

References 0 publications

Services Development and Comparative Advantage in Manufacturing

Services Development and Comparative Advantage in Manufacturing

Investigating the Effect of Structural Changes and Trade Liberalization on Total Factor Productivity in Iran (1991-2018)

Misallocation of Resources, Total Factor Productivity, and the Cleansing Hypothesis

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