학술저널
Economic Growth, Engel's Law, and Structural Transformation
- 서울대학교 경제연구소
- Seoul Journal of Economics
- Seoul Journal of Economics Volume 8 No.1
-
1995.031 - 21 (20 pages)
- 3
커버이미지 없음
This paper presents a model of structural transformation in the course of economic development and contrasts simulation results with actual data. Important features of the United States historical data such as the diminishing importance of agriculture in terms of labor force or GDP fraction can be generated by the model. It is shown that the structural dynamics bringing about diminution of agriculture calls for a nonhomothetic preference specification.
Abstract
Ⅰ. Introduction
Ⅱ. Model of Structural Transformation
Ⅲ. Empirical Investigation of the Model
Ⅳ. Extension of the Model and Concluding Remarks
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