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By R. M. Sundrum (auth.)

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By R. M. Sundrum (auth.)

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Example text

4. 2 is that the growth rate of the S-sector is greater than that of the M-sector at the highest income levels. 23 Source: Chenery et a/. (1986). 4, p. 236. the three sectors. 5. Similar data are not available for other countries for any long period. 6 showing the data for 1960 and 1980 for groups of countries classified according to their per capita incomes. 7. The proportionate allocation of labour to the three sectors is generally different from the relative sectoral shares of GOP. This is because labour productivity varies widely from sector to sector.

1 STRUCfURALTRANSFORMATION DURING GROWTH Economic growth as it occurs in the real world is an extremely complex process, influenced by a wide variety of causal factors. We cannot therefore hope to explain it in all its details right from the start. Instead, a better procedure would be to follow the method of successive approximations. Therefore, to begin with, we consider the factor~ that lead to the logistic pattern of growth, which seems to be the general pattern underlying the growth process in all countries, and then consider the factors which explain deviations from this pattern in particular countries or groups of countries.

4. 2 is that the growth rate of the S-sector is greater than that of the M-sector at the highest income levels. 23 Source: Chenery et a/. (1986). 4, p. 236. the three sectors. 5. Similar data are not available for other countries for any long period. 6 showing the data for 1960 and 1980 for groups of countries classified according to their per capita incomes. 7. The proportionate allocation of labour to the three sectors is generally different from the relative sectoral shares of GOP. This is because labour productivity varies widely from sector to sector.

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