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Unbalanced Growth Model and Service Sector Modifications

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This paper presents two empirical methods that verify the applicability of Baumol’s (1967) unbalanced growth model to the relationship between productivity growth and structural change. The logic of the model is empirically acceptable with some modifications of service sector classifications. Heterogeneity in the service sector was considered when classification schemes were selected.

Abstract

This paper presents two empirical methods that verify the applicability of Baumol’s (1967) unbalanced growth model to the relationship between productivity growth and structural change. The logic of the model is empirically acceptable with some modifications of service sector classifications. Heterogeneity in the service sector was considered when classification schemes were selected.

참고문헌 (16)

  1. Baumol, W. J., "Macroeconomics of unbalanced growth: The anatomy of urban crisis", American Economic Review, 57, pp.415~426 (1967)
  2. Baumol, W. J., "Unbalanced growth revisited: Asymptotic stagnancy and new evidence", American Economic Review, 75(4), pp.806~817 (1985)
  3. Clark, C., "The Conditions of Economic Progress" (1940), Macmillan
  4. Curtis, D. C. A., "Economic growth and restructuring: A test of unbalanced growth models 1977-1992", Applied Economics Letters, 5, pp.777~80 (1998)
  5. Fagerberg, J., "Technological progress, structural change and productivity growth: A comparative study", Structural Change and Economic Dynamics, 11, pp.393~411 (2000)
  6. Fisher, A. G. B., "Production, primary, secondary and tertiary", Economic Record, 15, pp.24~38 (1939)
  7. Kravis, I., "The share of services in economic growth. in: Global Econometrics: Essays in Honor of Lawrence R. Klein", pp.188~218 (1983), MIT Press
  8. Maudos, J., "Explaining the US-EU productivity growth gap: Structural change vs. intra-sectoral effect", Economics Letters, 100, pp.311~313 (2008)
  9. OECD (Organisation of Economic Co-operation and Development), "National Accounts Volume I: Main Aggregates" (2008)
  10. Oulton, N., "Must the Growth Rate Decline? Baumol’s Unbalanced Growth Revisited" (1999), Bank of England
  11. Peneder, M., "Industrial structure and aggregate growth", Structural Change and Economic Dynamics, 17, pp.99~115 (2003)
  12. Scharpf, F. W., "Structures of postindustrial society or does mass unemployment disappear in the service and information economy? in Labor Market Adjustments to Structural Change and Technological Progress", pp.132~166 (1990), Praeger
  13. Singelmann, J., "From Agriculture to Services. The Transformation of Industrial Employment" (1978), Sage
  14. Spann, R. M., "The macroeconomics of unbalanced growth and the expanding public sector: Some simple tests of a model of government growth", Journal of Public Economics, 8, pp.397~404 (1977)

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