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New Perspectives on Structural ChangeCauses and Consequences of Structural Change in the Global Economy$
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Ludovico Alcorta, Neil Foster-McGregor, Bart Verspagen, and Adam Szirmai

Print publication date: 2021

Print ISBN-13: 9780198850113

Published to Oxford Scholarship Online: April 2021

DOI: 10.1093/oso/9780198850113.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 15 October 2021

Structuralist Contributions to Development Thinking

Structuralist Contributions to Development Thinking

(p.21) 2 Structuralist Contributions to Development Thinking
New Perspectives on Structural Change

Nicola Cantore

Ludovico Alcorta

Oxford University Press

This chapter reviews the structuralist contributions to thinking about economic growth and development. The chapter begins by tracing the roots of structuralism back to the classical economists such as Smith, Ricardo, and Quesnay. The common denominator of structuralist thought is the emphasis on breaking down the economy into different industrial sectors and examining the effects of sectoral developments on aggregate economic development. This contrasts with neoclassical thinking, which in all its varieties, tends to focus on the macro-economy without a breakdown into sectors. The authors go on to discuss early contributions, post-war contributions, and recent contributions. They analyse the major drivers of structural change. These include technology which changes the structure and composition of demand, productivity trends within sectors, and the role of demand and income elasticity.

Keywords:   structuralism, drivers of structural change, technology, productivity, demand, income elasticity

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