The Oxford Handbook of Structural Transformation

Abstract

This book examines a variety of topics relating to structural transformation, such as why such transformations are associated with persistently high unemployment; the ‘flying-geese’ theory introduced by Japanese economist Kaname Akamatsu in the mid-1930s; mutual, two-way dependence of structural transformation and food security; a competitiveness-based view of structural transformation; the link between world trade and structural change from 1800 to present; the relationship between financial reforms, financial development, and structural change; sustainable structural change in the context of global value chains; and the commonly used strategies to build effective clusters and industrial parks. The book also discusses the specific problems that arise when composing an index of structural change and development, and suggests ways to address them; how structural change can be formally modelled in New Structural Economics (NSE); and some of the key elements of the knowledge accumulated in development economics. Furthermore, it identifies three key economic forces that drive structural transformation: the first emphasizes income effects, while the other two both emphasize relative price effects. The experiences of regions and countries such as Latin America, the West African Economic and Monetary Union (WAEMU), India, Egypt, Viet Nam, China, Korea, Taiwan, Ethiopia, and Tanzania with respect to structural transformation are also analysed. Finally, the book considers what is harmful in the existing structures, what goals we want any new structures to serve, and what structures would serve the chosen goals.

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