Evolving paradigms of structural change
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2013
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Abstract
New Structural Economics draws lessons from history to identify factors that help or hinder the reallocation of resources from low- to high-productivity sectors. It promotes the strategic selection of competitive industries according to comparative advantage, and recommends a new distribution of roles between governments and markets. The economic notion of “structures” has evolved over decades to cover both macro and micro issues, and to hold different meanings. This chapter examines economic theory in terms of development and underdevelopment.
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Pre-print version
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Keywords
STRUCTURALISM, MARKET ECONOMY, INDUSTRIALIZATION, GOVERNMENT ROLE, STABILIZATION, STRUCTURAL ADJUSTMENT, GLOBAL