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Economic development, structural change and natural resources booms: A structuralist perspective

Economic development, structural change and natural resources booms: A structuralist perspective

Botta, A (2009) Economic development, structural change and natural resources booms: A structuralist perspective. Metroeconomica, 61 (3). pp. 510-539. ISSN 0026-1386 (Print), 1467-999X (Online) (doi:10.1111/j.1467-999X.2009.04077.x)

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Abstract

In this paper we present a structuralist two-sector model on economic development, structural change and natural resource booms. We describe a multiple equilibria scenario, in which manufacturing development is the main source of economic progress. Natural resource booms, by modifying the productive structure of the economy, may set destabilizing forces. De-industrialization processes may take place, confining developing countries in poverty traps. Public intervention in the economic sphere, both through short-run macro policies and through long-run development strategies, may help to free the economy from poverty traps and to foster the development process.

Item Type: Article
Uncontrolled Keywords: Natural resource booms, Dutch disease, Structural Change, Structuralist macroeconomics
Faculty / Department / Research Group: Faculty of Business > Department of International Business & Economics
Last Modified: 14 Oct 2016 09:36
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: None
URI: http://gala.gre.ac.uk/id/eprint/14449

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