The role of resource misallocation in structural change
Autor(a) principal: | |
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Data de Publicação: | 2019 |
Outros Autores: | |
Tipo de documento: | Artigo de conferência |
Idioma: | eng |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | https://hdl.handle.net/10438/27751 |
Resumo: | We develop a multi-sector model of economic growth to explain the distinct patterns of structural change in manufacturing sectors in industrialized countries and those in developing and emerging industrial countries. To this end, we include a redistribution mechanism generated by a government because this mechanism affects an economy’s relative prices and dynamic of resource allocation. This mechanism can imply changes in the production structure or the perpetuation of structures harmful to economic growth. We also demonstrate that sufficient conditions for the coexistence of structural change and unbalanced aggregate growth in this environment impose fewer restrictions on the elasticity of substitution between intermediate goods, the technological gap across sectors and the household’s income effect. Moreover, using micro-founded parameters, our numerical results are consistent with the observed data from Brazilian industry. |
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Teles, Vladimir KuhlVasconcelos, Rafael da SilvaDemais unidades::RPCAFGV2019-07-29T12:39:25Z2019-07-29T12:39:25Z2019-02-27https://hdl.handle.net/10438/27751We develop a multi-sector model of economic growth to explain the distinct patterns of structural change in manufacturing sectors in industrialized countries and those in developing and emerging industrial countries. To this end, we include a redistribution mechanism generated by a government because this mechanism affects an economy’s relative prices and dynamic of resource allocation. This mechanism can imply changes in the production structure or the perpetuation of structures harmful to economic growth. We also demonstrate that sufficient conditions for the coexistence of structural change and unbalanced aggregate growth in this environment impose fewer restrictions on the elasticity of substitution between intermediate goods, the technological gap across sectors and the household’s income effect. Moreover, using micro-founded parameters, our numerical results are consistent with the observed data from Brazilian industry.engEconomic DevelopmentStructural changeResource misallocationEconomiaDesenvolvimento econômicoThe role of resource misallocation in structural changeinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/conferenceObjectinfo:eu-repo/semantics/openAccessreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVRede de Pesquisa e Conhecimento AplicadoLICENSElicense.txtlicense.txttext/plain; charset=utf-84707https://repositorio.fgv.br/bitstreams/9e70c6b7-8591-4a2e-8302-f3968712ea3d/downloaddfb340242cced38a6cca06c627998fa1MD52ORIGINALstructural_change.pdfstructural_change.pdfapplication/pdf446060https://repositorio.fgv.br/bitstreams/9de86da2-b6ea-481a-89da-345eb06b797c/downloada5f56f27102915c2ad6ce02e9bbef517MD51TEXTstructural_change.pdf.txtstructural_change.pdf.txtExtracted 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dc.title.eng.fl_str_mv |
The role of resource misallocation in structural change |
title |
The role of resource misallocation in structural change |
spellingShingle |
The role of resource misallocation in structural change Teles, Vladimir Kuhl Economic Development Structural change Resource misallocation Economia Desenvolvimento econômico |
title_short |
The role of resource misallocation in structural change |
title_full |
The role of resource misallocation in structural change |
title_fullStr |
The role of resource misallocation in structural change |
title_full_unstemmed |
The role of resource misallocation in structural change |
title_sort |
The role of resource misallocation in structural change |
author |
Teles, Vladimir Kuhl |
author_facet |
Teles, Vladimir Kuhl Vasconcelos, Rafael da Silva |
author_role |
author |
author2 |
Vasconcelos, Rafael da Silva |
author2_role |
author |
dc.contributor.unidadefgv.por.fl_str_mv |
Demais unidades::RPCA |
dc.contributor.affiliation.none.fl_str_mv |
FGV |
dc.contributor.author.fl_str_mv |
Teles, Vladimir Kuhl Vasconcelos, Rafael da Silva |
dc.subject.eng.fl_str_mv |
Economic Development Structural change Resource misallocation |
topic |
Economic Development Structural change Resource misallocation Economia Desenvolvimento econômico |
dc.subject.area.por.fl_str_mv |
Economia |
dc.subject.bibliodata.por.fl_str_mv |
Desenvolvimento econômico |
description |
We develop a multi-sector model of economic growth to explain the distinct patterns of structural change in manufacturing sectors in industrialized countries and those in developing and emerging industrial countries. To this end, we include a redistribution mechanism generated by a government because this mechanism affects an economy’s relative prices and dynamic of resource allocation. This mechanism can imply changes in the production structure or the perpetuation of structures harmful to economic growth. We also demonstrate that sufficient conditions for the coexistence of structural change and unbalanced aggregate growth in this environment impose fewer restrictions on the elasticity of substitution between intermediate goods, the technological gap across sectors and the household’s income effect. Moreover, using micro-founded parameters, our numerical results are consistent with the observed data from Brazilian industry. |
publishDate |
2019 |
dc.date.accessioned.fl_str_mv |
2019-07-29T12:39:25Z |
dc.date.available.fl_str_mv |
2019-07-29T12:39:25Z |
dc.date.issued.fl_str_mv |
2019-02-27 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
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https://hdl.handle.net/10438/27751 |
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https://hdl.handle.net/10438/27751 |
dc.language.iso.fl_str_mv |
eng |
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eng |
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info:eu-repo/semantics/openAccess |
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openAccess |
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