New Structural Economics : A Framework for Rethinking Development

By J. Lin. 2011

221 citations recorded by the source corpus.

As strategies for achieving sustainable growth in developing countries are re-examined in light of the financial crisis, it is critical to take into account structural change and its corollary, industrial upgrading. Economic literature has devoted a great deal of attention to the analysis of technological innovation, but not enough to these equally important issues. The new structural economics outlined in this paper suggests a framework to complement previous approaches in the search for sustainable growth strategies. It takes the following into consideration. First, an economy's structure of factor endowments evolves from one level of development to another. Therefore, the optimal industrial structure of a given economy will be different at different levels of development. Each industrial structure requires corresponding infrastructure (both “hard” and “soft”) to facilitate its operations and transactions. Second, each level of economic development is a point along the continuum from a low-income agrari...

Subfields: Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/f13eb26908e229d736cbfad182cc00c99fb2653c

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Citations in the corpus

Can Developing Countries Gain from Defying Comparative Advantage? Distance to Comparative Advantage, Export Diversification and Sophistication, and the Dynamics of Specialization (2018, background): “Our results indicate that, in sharp contradiction with the standard theory of specialization along the development pathway (Schott, 2003; Lin, 2009, 2012), the transformation of the productive structure can temporarily precede factor accumulation, with large benefits for the whole economy.”
PUBLIC PROCUREMENT AS AN INDUSTRIAL POLICY TOOL: AN OPTION FOR DEVELOPING COUNTRIES? (2010, background): “We argue in this article that following renewed calls in the aftermath of the global financial crisis to redeploy industrial policies for development (Cimoli, Dosi & Stiglitz, 2009; Lin, 2009), these policies should involve public procurement- promoting innovation.”
Structural Transformation and Rural Change Revisited: Challenges for Late Developing Countries in a Globalizing World (2012, background): “Interest on the donor side can also be identifi ed: Justin Lin, the World Bank’s chief economist, has repeatedly called for a “new structural economics” as a framework for rethinking development (Lin 2010).”
Separate Worlds? Explaining the current wave of regional economic polarization (2018, background): “As such, major waves of change are not due to random exogenous shocks (Storper and Walker, 1989; cf. Lin, 2012; Hadjimichalis and Hudson, 2014; Storper, 1997, 2013).”