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- W3121862537 abstract "Against the backdrop of Baumol's model of 'unbalanced growth', a recent strand of literature has presented models that manage to reconcile structural change with Kaldor's 'stylized fact' of the relative constancy of per-capita GDP growth. Another strand of literature goes beyond this, arguing that the expenditure shifts toward Baumol's 'stagnant' sector stimulate rather than dampen long-term economic growth because of the human capital-accumulating nature of major 'stagnant' services (like health care and education). This paper tests the relationship between structural change and economic growth empirically by means of a Granger-causality analysis of a panel of 18 OECD countries." @default.
- W3121862537 created "2021-02-01" @default.
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- W3121862537 date "2010-09-01" @default.
- W3121862537 modified "2023-09-27" @default.
- W3121862537 title "Testing the Growth Effects of Structural Change" @default.
- W3121862537 hasPublicationYear "2010" @default.
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