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- W147816404 abstract "An increase in per capita income in a country is normally accompanied by a rise in the share of industrial output. The accepted explanation for this relationship is the change in the composition of demand, of which the decline in the share of food (Engel's Law) is the most notable feature. However, this over-all relationship does not necessarily apply to every individual country. XVithin limits, the changing composition of domestic demand can be offset through foreign trade. A country having a continuing comparative advantage in primary production may therefore reach a high level of income without an increase in the share of industry in total output. Because of the diversity of natural resources, we should not expect to find uniform patterns of growth in all countries.' Evidence from several sources suggests a closer and more pronounced relationship between levels of income and industrial output than would be predicted from the change in demand alone. Kuznets' comparison of some 50 countries [13] shows a marked increase of manufacturing with rising per capita income, as did the earlier analyses of Bean" @default.
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- W147816404 date "1960-01-01" @default.
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- W147816404 title "PATTERNS OF INDUSTRIAL GROWTH" @default.
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