Seventy Years of Economic Development: A Review from the Angle of New Structural Economics

2020 ◽  
Vol 28 (4) ◽  
pp. 26-50
Author(s):  
Justin Yifu Lin ◽  
Yan Wang
Keyword(s):  
Economic Development ◽  
New Structural Economics

scholarly journals The Facilitating State and Economic Development: The Role of the State in New Structural Economics

2017 ◽  
Vol 4 (2) ◽  
Author(s):  
Justin Yifu Lin ◽  
Xiaobing Wang
Keyword(s):  
Economic Development ◽  
The State ◽  
Limited Resources ◽  
Market Failures ◽  
Role Of The State ◽  
Dynamic Growth ◽  
Poor Infrastructure ◽  
New Structural Economics ◽  
Over Time

AbstractThis paper explores the ideas of development and the role of the state in economic development and institutional change from the New Structural Economics perspective. We argue that economic structures – including the structure of technology and industry, and hard and soft infrastructure – are endogenous to the endowment structure, which is given at any specific time and changeable over time. We advocate a state to facilitate structural change by using industrial policy to overcome market failures in order to help industries with latent comparative advantages to become competitive in the market and the state should pragmatically prioritize the use of its limited resources and implementation capability to create enclaves with favourable infrastructure and institution to jump start a dynamic growth in a country beset with poor infrastructure and institution.

scholarly journals Structural transformation and economic development in the best performing sub-Saharan African states

Equilibrium ◽  
2017 ◽  
Vol 12 (4) ◽  
pp. 547-571 ◽  
Author(s):  
Katarzyna Świerczyńska
Keyword(s):  
Economic Development ◽  
Structural Changes ◽  
Labour Productivity ◽  
Value Added ◽  
Data Availability ◽  
Policy Implications ◽  
Sub Saharan Africa ◽  
African Countries ◽  
Sub Saharan ◽  
New Structural Economics

Research background: Economic development in sub-Saharan Africa is of paramount importance, yet it escapes most of the attempts to understand it better in the economic dis-course, and it remains a sensitive issue in politics, contradicting stakeholders at national and international levels. The region still lags behind others in terms of technological advancement and economic development. It has grown  significantly in the precedent decade, but the extent of growth has not sufficiently translated to its development. Determining strategies for sub-Saharan Africa is a scientific challenge, which requires more attention. In the globalized, interconnected reality, solving problems of the South is in the best interest of the North. Purpose of the article: The aim of this research is to analyze structural changes as factors of economic development in the best performing sub-Saharan African countries on the grounds of new structural economics in order to provide policy implications.   Methods: Namibia, Botswana, South Africa and Gabon were selected as best performing economies in the region. Based on the literature review and the analysis of descriptive statis-tics, profiles of sample countries were set. This in turn allowed to determine the potential explanatory variables for OLS model of economic development. In the model, factors relating to labour productivity, technology and structural change were included. The data was sourced from WDI (World Development Indicators) database, Gretl software was used for computations. Findings & Value added: This paper contributes to the literature by attempting to explain structural changes in the process of economic development in the sub-Saharan region on the sample of best performing states. The paradigm of new structural economics provided theo-retical grounds for empirical analysis. Based on the results, policy implications were proposed with respect to technology promotion, natural resources management, and quality of institutions. The research was limited by data availability and reliability.

scholarly journals Insight into the Polish Strategy for Responsible Development by 2020 and New Structural Economics Assumptions

2020 ◽  
pp. 1-10
Author(s):  
Pawel BRUSILO
Keyword(s):  
Economic Development ◽  
Way Of Thinking ◽  
Insight Into ◽  
New Structural Economics

This paper is an overview and a comparison of the new structural economics postulates and the assumptions of Polish Strategy for the Responsible Development by 2020 (with 2030 perspective). New structural economics is a modern way of thinking about economic development, which combines the postulates of neoclassical and structural economics.

Structural Transformation

2019 ◽  
pp. 150-172
Author(s):  
Christian Ketels
Keyword(s):  
Economic Policy ◽  
Economic Development ◽  
Structural Transformation ◽  
Industrial Composition ◽  
Speed Up ◽  
New Literature ◽  
The Relationship ◽  
New Structural Economics

This chapter examines the relationship between competitiveness and structural transformation. It first provides an overview of the similarities and complementarities that link the competitiveness approach with the new literature on structural transformation, along with the differences between them, before discussing the role of competitiveness in economic development. The focus is on competitiveness as defined by the productivity-based view, along with drivers of competitiveness, the goals and motivations for economic policy aimed at improving competitiveness, and the new structural economics that offers a novel set of recommendations for how economies can speed up the process of structural transformation. The chapter identifies an integrated view that captures both the role of competitiveness fundamentals and industrial composition in driving productivity and prosperity outcomes.

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