Complementarity and Transition to Modern Economic Growth

• 영문명: Complementarity and Transition to Modern Economic Growth
• 발행기관: 한국계량경제학회
• 저자명: Hyeok Jeong Yong Kim
• 간행물 정보: 『한국계량경제학회 학술대회 논문집』2008년 하계학술대회, 1~44쪽, 전체 44쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2008.08.30

영문 초록

In developing countries, income per capita typically remains stagnant for long periods before taking-off. We study this as the outcome of a gradual transition of the workforce from traditional to modern sectors. While exogenous productivity growth is present in the modern sector only, transition to the modern sector is gradual because work experience is sector-specific and complements labor. This generates an S-shaped income growth for the dual economy, the effect of which enters into TFP in an aggregate production function. We measure the theory using nationally representative micro data from Thailand (1976-1996). The technology parameters are estimated using cross-sectional earnings equations implied by the model. We find the model simulated at these estimates captures well the nonlinear dynamics of aggregate earnings growth and inequality in Thailand.

목차

1 Introduction

2 Literature

3 Model

4 Estimation

5 Simulationv

6 Conclusion

키워드

Complementarity Modern Economic Growth Transition Dynamics TFP Inequality