Botta, A ORCID: https://orcid.org/0000-0001-9464-8251 (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 / School / Research Centre / Research Group:	Faculty of Business > Department of International Business & Economics
Last Modified:	21 Oct 2020 08:00
URI:	http://gala.gre.ac.uk/id/eprint/14449

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