By Dr. Thorsten Wichmann (auth.)

ISBN-10: 3642469949

ISBN-13: 9783642469947

ISBN-10: 3790809608

ISBN-13: 9783790809602

A two-sector version of a constructing nation including agriculture and is gifted. progress and structural switch are mentioned in versions with exogenous in addition to endogenous technical growth, algebraically and by way of numerical simulations. effects from considering peculiarities of meals construction and intake are analyzed. those contain know-how adoption in agriculture, Engel's legislation and a courting among the extent of foodstuff and productivity.

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Extra resources for Agricultural Technical Progress and the Development of a Dual Economy

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15) one can also see that the ratio of food consumption to consumption of manufacturing goods generally is not constant, and that the question of which part of the basket expands depends on the parameter values. Therefore, the model is able to show a declining fraction of food in overall consumption over time. Note, that this does not even require strong assumptions. Even with similar rates of technical progress in both sectors, per capita consumption of widgets grows faster than per-capita consumption of food, and thus the share of manufactured goods will increase since a < 1 and A.

28). Cf. also World Bank (I 982). 28 2. Economic Development, Endogenous Growth, and Agriculture discuss determinants of the economy's growth rate as well as the prerequisites for viability (growing real wages). The migration decision is looked at more closely by Harris and Todaro (1970). In their model industrial firms pay wages above the market clearing level which leads to urban unemployment. In the rural agricultural sector the wage adjusts to clear the labor market. Workers migrate to urban areas since they equalize the agricultural wage with the expected industrial wage, that is, the higher wage rate in the urban area times the probability of actually finding employment there.

The Dual Economy Revisited development process, is characterized by n, the fraction of labor in agriculture. In the steady-state it has to be constant; it cannot increase or decrease forever at a constant rate. a, = MK a «I-n)L) . 10) yields: (I - a) MK-a «I - n) L) a =p - (I - a) [ (a - 1) y).. 1 a which is positive and smaller one by the transversality condition as is shown in appendix A2. Obviously, all parameters of the model influence n*. This opens the possibility for economic policy to influence not only the output growth rate in both sectors but also its steady-state structure, that is, to industrialize a country.

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Agricultural Technical Progress and the Development of a Dual Economy by Dr. Thorsten Wichmann (auth.)

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