The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Structural Change

  • Kiminori Matsuyama
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_1775

Abstract

Structural change is a complex, intertwined phenomenon, not only because economic growth brings about complementary changes in various aspects of the economy, such as the sector compositions of output and employment and the organization of industry, but also because these changes in turn affect the growth process. Using a simple two-sector model, we highlight some driving forces behind structural change, attempt to convey the complexity of the phenomenon and identify some key issues discussed in the literature.

Keywords

Agricultural productivity growth Development failure Economic growth Engel’s Law Exogenous productivity growth Product diversity Resource curse Rostow, W. Rural–urban migration Specialization Stages theory of growth Staple trap Structural change Total factor productivity 

JEL Classifications

O0 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Kiminori Matsuyama
    • 1
  1. 1.