Structural Changes and Structural Transformation in a Modern Development Economy / Strukturne Promene i Strukturna Transformacija u Savremenoj Razvojnoj Ekonomiji

• Authors: Vladislav Marjanović
• Languages of publication: EN

Abstracts

EN

The concepts of structure and structural changes can be applied in many different ways. Relatedly, the roughest distinction is reflected in two approaches: development economics approach and econometric approach. This paper will rely on the development economics, because it seems that the econometric approach oversimplifies the structural analysis and structural changes. Development economics, which evolved through the interaction between theoretical research and empirical studies, deals with many issues related to structure and growth in less developed (developing) countries. In development economics, the economic structure analysis is observed mostly through micro and macro approach. The paper relies on a macroeconomic approach which views the economic development as a set of interrelated long-term processes of structural transformation accompanying the growth. Unlike the neoclassical approach, which makes a simple distinction of the economy to sectors producing tradable goods (with a high substitution) and sectors producing non-tradable goods, development economics studies structural adjustments of much serious complexity. Unlike other branches of economy, development economics has no universally accepted doctrine or paradigm. Instead, it is based on continuous evaluation of thinking, creating a ground for understanding the processes of modern economic development.

Keywords

EN

economic structure; structural changes; structural transformation; development economy; sectors’ proportions

• Publisher: Sciendo
• Journal: Economic Themes
• Year: 2015
• Volume: 53
• Issue: 1
• Pages: 63-82

Dates

published

2015-03-01

received

2015-01-23

accepted

2015-03-27

online

2016-04-15

Contributors

author

Vladislav Marjanović

• University of Niš, Faculty of Economic, Serbia

References

• Chenery, H. (1988) “Introduction”, Handbook of Development Economics I: 205-210.
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• Fagerberg, J. (2000) “Technological Progress, Structural Change and Productivity Growth: A Comparative Study”, Structural Change and Economic Dynamics, 11: 393-418.
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• Kuznets S. (1959) On Comparative Study of Economic Structure and Growth of Nations, New York: NBER.
• Ocampo, J. A. (2002) Structural Dynamics and Economic Development, Social Institutions and Economic Development, Netherlands: Kluwer Academic Publishers.
• Syrquin, M. (1988) „Patterns of Structural Change“, Handbook of Development Economics I: 218-220.
• Todaro, M., Smith, S. (2003) Economic Development, New York: Addison Wesley.
• UN Economic and Social Affairs (2006) „World Economic and Siocal Survey 2006, Diverging Growth and Development“, NewYork: UN.

Identifiers

DOI

10.1515/ethemes-2015-0005