IntroductionVIII
Chapter VII points out that as wages rise rapidly in dynamically growing
emerging market economies, such as China, India, Brazil, Indonesia
and others, in the multipolar growth world of the 21st century, the laborintensive
industries in those emerging market economies will be losing
comparative advantages and provide golden opportunities for other lowincome
countries to enter. China alone currently has 85 million manufacturing
jobs in labor-intensive industries. If low-income countries in Africa
and other parts of the world are able to seize these jobs, they will be able
to grow dynamically, reduce poverty, and improve living standards quickly.
Lower-income countries should therefore turn their late-comer status to
their advantage by identifying mature industries in carefully selected lead
countries and facilitating the entry of their own private enterprises or foreign
direct investments from the comparator countries into those industries.
This chapter also summarizes key policy messages and provides concluding
thoughts.
As stated in the annual UNU-WIDER Lecture that I delivered in Maputo
on May 4, 2011, I believe that every developing country, including those in
Sub-Saharan Africa, can grow at 8 percent or more continuously for several
decades, signifi cantly reducing poverty and becoming middle- or even highincome
countries in the span of one or two generations, if its government
has the right policy framework to facilitate the private sector’s development
along the line of its comparative advantages and tap into the late-comer
advantages (Lin 2011). I hope that the publication of this book will make a
contribution toward the realization of that goal in the developing world.
References
Kuznets, S. 1966. Modern Economic Growth. New Haven, CT: Yale University
Press.
Lal, Deepak. 1983. “The Poverty of ‘Development Economics.’” Institute of
Economic Affairs, London.
Lin, Justin Yifu. 2011. “From Flying Geese to Leading Dragons: New Opportunities
and Strategies for Structural Transformation in Developing Countries.”
WIDER Annual Lecture 15, Helsinki: UNU-WIDER. (A shorter version of this
paper is forthcoming in Global Policy.)
Maddison, Angus. 1982. Phases of Capitalist Development. Oxford, UK: Oxford
University Press.
———. 1995. Monitoring the World Economy, 1820–1992. Paris: OECD.
McMillan, Margaret, and Dani Rodrik. 2011. “Globalization, Structural
Change and Productivity Growth,” Kennedy School of Government, Harvard
University, Cambridge, MA., http://www.hks.harvard.edu/fs/drodrik/
Research%20papers/Globalization,%20Structural%20Change,%20and%20
Productivity%20Growth.pdf.
Pritchett, Lant. 1997. “Divergence, Big Time.” Journal of Economic Perspectives
11 (3): 3–17.
Reddy, Sanjay, and Camelia Minoiu. 2009. “Real Income Stagnation of Countries
1960–2001.” Journal of Development Studies 45 (1): 1–23.
Spence, M. 2011. The Next Convergence: The Future of Economic Growth in a
Multispeed World. New York: Farrar, Straus and Giroux.
World Bank. 2011. Global Development Horizons—Multipolarity: The New
Global Economy. Washington, DC: World Bank.
Economic development is a process of continuous technological innovation and structural transformation. Development thinking is inherently tied to the quest for sustainable growth strategies. This book provides a neoclassical approach for studying the determinants of economic structure and its transformation and draws new insights for development policy. The market is the basic mechanism for effective resource allocation at each level of development. However, economic development as a dynamic process entails structural changes, including industrial upgrading and diversification and corresponding improvements in hard and soft infrastructure. Such upgrading and improvements require coordination and go hand in hand with large externalities to firms transaction costs and returns to capital investment. Thus, in addition to an effective market mechanism, the government should play an active role in facilitating structural changes. The book provides empirical evidence in support of this framework as well as concrete advice to development practitioners.
emerging market economies, such as China, India, Brazil, Indonesia
and others, in the multipolar growth world of the 21st century, the laborintensive
industries in those emerging market economies will be losing
comparative advantages and provide golden opportunities for other lowincome
countries to enter. China alone currently has 85 million manufacturing
jobs in labor-intensive industries. If low-income countries in Africa
and other parts of the world are able to seize these jobs, they will be able
to grow dynamically, reduce poverty, and improve living standards quickly.
Lower-income countries should therefore turn their late-comer status to
their advantage by identifying mature industries in carefully selected lead
countries and facilitating the entry of their own private enterprises or foreign
direct investments from the comparator countries into those industries.
This chapter also summarizes key policy messages and provides concluding
thoughts.
As stated in the annual UNU-WIDER Lecture that I delivered in Maputo
on May 4, 2011, I believe that every developing country, including those in
Sub-Saharan Africa, can grow at 8 percent or more continuously for several
decades, signifi cantly reducing poverty and becoming middle- or even highincome
countries in the span of one or two generations, if its government
has the right policy fr
along the line of its comparative advantages and tap into the late-comer
advantages (Lin 2011). I hope that the publication of this book will make a
contribution toward the realization of that goal in the developing world.
References
Kuznets, S. 1966. Modern Economic Growth. New Haven, CT: Yale University
Press.
Lal, Deepak. 1983. “The Poverty of ‘Development Economics.’” Institute of
Economic Affairs, London.
Lin, Justin Yifu. 2011. “From Flying Geese to Leading Dragons: New Opportunities
and Strategies for Structural Transformation in Developing Countries.”
WIDER Annual Lecture 15, Helsinki: UNU-WIDER. (A shorter version of this
paper is forthcoming in Global Policy.)
Maddison, Angus. 1982. Phases of Capitalist Development. Oxford, UK: Oxford
University Press.
———. 1995. Monitoring the World Economy, 1820–1992. Paris: OECD.
McMillan, Margaret, and Dani Rodrik. 2011. “Globalization, Structural
Change and Productivity Growth,” Kennedy School of Government, Harvard
University, Cambridge, MA., http://www.hks.harvard.edu/fs/drodrik/
Research%20papers/Globalization,%20Structural%20Change,%20and%20
Productivity%20Growth.pdf.
Pritchett, Lant. 1997. “Divergence, Big Time.” Journal of Economic Perspectives
11 (3): 3–17.
Reddy, Sanjay, and Camelia Minoiu. 2009. “Real Income Stagnation of Countries
1960–2001.” Journal of Development Studies 45 (1): 1–23.
Spence, M. 2011. The Next Convergence: The Future of Economic Growth in a
Multispeed World. New York: Farrar, Straus and Giroux.
World Bank. 2011. Global Development Horizons—Multipolarity: The New
Global Economy. Washington, DC: World Bank.
本文摘自《新结构经济学》
Economic development is a process of continuous technological innovation and structural transformation. Development thinking is inherently tied to the quest for sustainable growth strategies. This book provides a neoclassical approach for studying the determinants of economic structure and its transformation and draws new insights for development policy. The market is the basic mechanism for effective resource allocation at each level of development. However, economic development as a dynamic process entails structural changes, including industrial upgrading and diversification and corresponding improvements in hard and soft infrastructure. Such upgrading and improvements require coordination and go hand in hand with large externalities to firms transaction costs and returns to capital investment. Thus, in addition to an effective market mechanism, the government should play an active role in facilitating structural changes. The book provides empirical evidence in support of this fr