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The Economics of Structural Change
The Economics of Structural Change shows the central role that compositional dynamics plays in the analysis of fluctuations, development, employment and economy-environment interactions. Volume I covers concepts and theories in the economics of structural change; Volume II includes specific contributions to structural theories of growth, cycles and technological change; Volume III focuses on specific areas in the empirics of structural change analysis.
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Critical Acclaim
Contributors
Contents
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Structural change analysis has been a distinctive feature of economics since its formative period. This authoritative three-volume collection presents a comprehensive selection of the key contributions to the topic.
The Economics of Structural Change shows the central role that compositional dynamics plays in the analysis of fluctuations, development, employment and economy-environment interactions. Volume I covers concepts and theories in the economics of structural change; Volume II includes specific contributions to structural theories of growth, cycles and technological change; Volume III focuses on specific areas in the empirics of structural change analysis.
This important three-volume set will be indispensable to researchers and practitioners alike.
The Economics of Structural Change shows the central role that compositional dynamics plays in the analysis of fluctuations, development, employment and economy-environment interactions. Volume I covers concepts and theories in the economics of structural change; Volume II includes specific contributions to structural theories of growth, cycles and technological change; Volume III focuses on specific areas in the empirics of structural change analysis.
This important three-volume set will be indispensable to researchers and practitioners alike.
Critical Acclaim
‘These volumes constitute a remarkably comprehensive collection of seminal articles on structural change, including historical works such as Adam Smith on the division of labor and Karl Marx on reproduction schemes and modern pieces by Leontief, Sraffa, Pasinetti, Goodwin, Baumol, Arrow, Aghion and Howitt.’
– Edward Wolff, New York University, US
– Edward Wolff, New York University, US
Contributors
87 articles, dating from 1758 to 2000
Contributors include: M. Abramovitz, W.J. Baumol, S. Chakravarty, P. David, N. Georgescu-Roegen, J. Hicks, W. Leontief, A. Lowe, D. North, L. Pasinetti, H. Simon
Contributors include: M. Abramovitz, W.J. Baumol, S. Chakravarty, P. David, N. Georgescu-Roegen, J. Hicks, W. Leontief, A. Lowe, D. North, L. Pasinetti, H. Simon
Contents
Contents:
Volume I: Economic Structure and Change: Concepts and Theories
Acknowledgements
Introduction Harald Hagemann, Michael Landesmann and Roberto Scazzieri
PART I PHASES OF ECONOMIC DEVELOPMENT: CLASSICAL APPROACHES
1. A.R.J. Turgot ([1766]1973), ‘Reflections on the Formation and the Distribution of Wealth’
2. James Steuart ([1767]/1966), ‘Introduction’
3. Adam Smith ([1776]/1976), ‘Of the Natural Progress of Opulence’
4. François Quesnay ([1758]/1972) in the ‘Third Edition’
5. Karl Marx ([1885]/1956), ‘III: Schematic Presentation of Accumulation’ and ‘Supplementary Remarks’
6. Eugen v. Böhm-Bawerk ([1891]/1930), ‘The Theory of the Formation of Capital’
7. John Bates Clark (1899), ‘Capital and Capital-Goods Contrasted’
PART II DYNAMIC FACTORS, GROWTH AND STRUCTURAL CHANGE
8. Adam Smith ([1763]/1978), ‘Division of Labour’
9. John Rae (1834), ‘Of the Principle of the Division of Labor’
10. T.R. Malthus (1820), excerpt from ‘On the Immediate Causes of the Progress of Wealth’
11. David Ricardo ([1817]/1951), ‘On Rent’
12. Erik Dahmen (1955), ‘Technology, Innovation and International Industrial Transformation’
13. John Hicks (1973), ‘The Mainspring of Economic Growth’
PART III THE ANALYTICAL REPRESENTATION OF ECONOMIC STRUCTURE
14. Wassily Leontief (1928), ‘The Economy as a Circular Flow’
15. Ragnar Nurkse (1935), ‘The Schematic Representation of the Structure of Production’
16. J. v. Neumann (1937), ‘A Model of General Economic Equilibrium’
17. Piero Sraffa (1960), ‘On "Sub-Systems"’
18. Luigi L. Pasinetti (1973), ‘The Notion of Vertical Integration in Economic Analysis’
19. John Hicks (1973), ‘The Process and its Profiles’
20. Salvatore Baldone (1996), ‘Vertical Integration, the Temporal Structure of Production Processes and Transition Between Techniques’
21. Nicholas Georgescu-Roegen (1971), ‘The Analytical Representation of Process and the Economics of Production’
22. Herbert A. Simon and Albert Ando (1961), ‘Aggregation of Variables in Dynamic Systems’
23. Camilo Dagum (1969), ‘Structural Permanence’
24. R.M. Goodwin (1976), ‘Use of Normalized General Coordinates in Linear Value and Distribution Theory’
25. Michael A. Landesmann and Roberto Scazzieri (1990), ‘Specification of Structure and Economic Dynamics’
Name Index
Volume II: Growth, Cycles and Technological Change: Structural Approaches
Acknowledgements
An introduction by the editors to all three volumes appears in Volume I
PART I STRUCTURAL THEORIES OF ECONOMIC GROWTH
1. Adolph Lowe (1955), ‘Structural Analysis of Real Capital Formation’
2. John Hicks (1985), ‘Structural Disequilibrium-Traverse’ and ‘Traverse Again: The Austrian Method’
3. Luigi L. Pasinetti (1993), ‘Structural Dynamics’
4. Harald Hagemann (1990), ‘The Structural Theory of Economic Growth’
5. Alberto Quadrio-Curzio (1986), ‘Technological Scarcity: An Essay on Production and Structural Change’
6. William J. Baumol (1967), ‘Macroeconomics of Unbalanced Growth: The Anatomy of Urban Crisis’
PART II STRUCTURAL THEORIES OF ECONOMIC FLUCTUATIONS
7. Dennis Holme Robertson (1915), ‘Temptations to Over-Investment’ and ‘Aggravations of Depression’
8. A. Spiethoff ([1933]/1937), ‘Overproduction’
9. Albert Aftalion (1927), ‘The Theory of Economic Cycles Based on the Capitalistic Technique of Production’
10. Franco Nardini (1990), ‘Cycle-trend Dynamics in a Fixwage Neo-Austrian Model of Traverse’
11. Mario Amendola and Jean-Luc Gaffard (1998), ‘Change’
12. Ragnar Frisch (1933), ‘Propagation Problems and Impulse Problems in Dynamic Economics’
13. Eugen Slutzky (1937), ‘The Summation of Random Causes as the Source of Cyclic Processes’
14. Joseph Schumpeter (1928), ‘The Instability of Capitalism’
15. Philippe Aghion and Peter Howitt (1992), ‘A Model of Growth Through Creative Destruction’
16. Gerald Silverberg and Doris Lehnert (1993), ‘Long Waves and "Evolutionary Chaos" in a Simple Schumpeterian Model of Embodied Technical Change’
PART III TECHNICAL PROGRESS AND ECONOMIC CHANGE
17. Nicholas Kaldor ([1961]/1963), ‘Capital Accumulation and Economic Growth’
18. Kenneth J. Arrow (1962), ‘The Economic Implications of Learning by Doing’
19. W.E.G. Salter ([1960]/1969), ‘A Model of the Delay in the Utilisation of New Techniques of Production’ and ‘Factor Prices and the Adjustment Process’
20. Christopher Bliss (1968), ‘On Putty-Clay’
21. Paul A. David (1985), ‘Clio and the Economics of QWERTY’
22. W. Brian Arthur (1989), ‘Competing Technologies, Increasing Returns, and Lock-in by Historical Events’
23. Giovanni Dosi (1982), ‘Technological Paradigms and Technological Trajectories: A Suggested Interpretation of the Determinants and Directions of Technical Change’
24. Edward Ames and Nathan Rosenberg (1964), ‘The Progressive Division and Specialization of Industries’
25. Xiaokai Yang and Jeff Borland (1991), ‘A Microeconomic Mechanism for Economic Growth’
26. Danny T. Quah (1997), ‘Increasingly Weightless Economies’
Name Index
Volume III: Economic Developments: Patterns and Empirics
Acknowledgements
An introduction by the editors to all three volumes appears in Volume I
PART I DECOMPOSING ECONOMIC GROWTH: HISTORICAL PERSPECTIVES
1. W.G. Hoffmann ([1931]/1958), ‘The Pattern of Industrial Growth’
2. Allan G.B. Fisher (1939), ‘Production, Primary, Secondary and Tertiary’
3. Simon Kuznets (1971), ‘Summary and Interrelations’
4. Ingvar Svennilson (1954), ‘The Process of Economic Growth’
5. Nathan Rosenberg (1963), ‘Capital Goods, Technology, and Economic Growth’
6. Moses Abramovitz (1986), ‘Catching Up, Forging Ahead, and Falling Behind’
7. Bart Verspagen (1995), ‘Convergence in the Global Economy. A Broad Historical Viewpoint’
8. Danny T. Quah (1996), ‘Empirics for Economic Growth and Convergence’
PART II PATTERNS OF ECONOMIC DEVELOPMENT
9. P.N. Rosenstein-Rodan (1943), ‘Problems of Industrialisation of Eastern and South-Eastern Europe’
10. Paul Streeten (1959), ‘Unbalanced Growth’
11. Shigeru Ishikawa (1967), ‘Initial Conditions’
12. Hollis B. Chenery and Lance Taylor (1968), ‘Development Patterns: Among Countries and Over Time’
13. Sukhamoy Chakravarty (1980), ‘Relevance of Growth Models to Development Planning’
14. Kevin M. Murphy, Andrei Shleifer and Robert W. Vishny (1989), ‘Industrialization and the Big Push’
15. Chin-Lih Wang, Juh-Luh Sun and Tein-Chen Chou (1992), ‘Sources of Economic Growth and Structural Change: A Revised Approach’
16. Kiminori Matsuyama (1992), ‘Agricultural Productivity, Comparative Advantage, and Economic Growth’
PART III EMPLOYMENT AND TECHNOLOGY
17. Hans P. Neisser (1942), ‘"Permanent" Technological Unemployment: "Demand for Commodities Is Not Demand for Labor"’
18. Wassily Leontief and Faye Duchin (1986), ‘The Future Impact of Automation on Employment’
19. David M. Lilien (1982), ‘Sectoral Shifts and Cyclical Unemployment’
20. Eileen Appelbaum and Ronald Schettkat (1995), ‘Employment and Productivity in Industrialized Economies’
PART IV ECONOMIC AND ENVIRONMENTAL CHANGE
21. Nicholas Georgescu-Roegen (1986), ‘The Entropy Law and the Economic Process in Retrospect’
22. Charles Perrings (1987), ‘Closed Physical Systems: A Model’
23. Robert Ayres (1991), ‘Evolutionary Economics and Environmental Imperatives’
24. Robert Costanza and Herman E. Daly (1992), ‘Natural Capital and Sustainable Development’
PART V INSTITUTIONS AND ECONOMIC CHANGE
25. Irma Adelman and Cynthia Taft Morris (1967), ‘The Long-Run Analysis’
26. Adam Przeworski and Fernando Limongi (1993), ‘Political Regimes and Economic Growth’
27. Albert O. Hirschman (1994), ‘The On-and-Off Connection Between Political and Economic Progress’
28. Mancur Olson (1993), ‘Dictatorship, Democracy, and Development’
29. Douglass C. North (1984), ‘Transaction Costs, Institutions, and Economic History’
30. Paul A. David (1994), ‘Why Are Institutions the "Carriers of History"?: Path Dependence and the Evolution of Conventions, Organizations and Institutions’
PART VI TESTING FOR STRUCTURAL CHANGE
31. T.C. Koopmans and O. Reiersøl (1950), ‘The Identification of Structural Characteristics’
32. R.L. Brown, J. Durbin and J.M. Evans (1975), ‘Techniques for Testing the Constancy of Regression Relationships over Time’
33. Dale J. Poirier (1991), ‘The Econometrics of Structural Change: A Retrospective View’
34. Jushan Bai and Pierre Perron (1998), ‘Estimating and Testing Linear Models with Multiple Structural Changes’
35. David F. Hendry (2000), ‘On Detectable and Non-detectable Structural Change’
Name Index
Volume I: Economic Structure and Change: Concepts and Theories
Acknowledgements
Introduction Harald Hagemann, Michael Landesmann and Roberto Scazzieri
PART I PHASES OF ECONOMIC DEVELOPMENT: CLASSICAL APPROACHES
1. A.R.J. Turgot ([1766]1973), ‘Reflections on the Formation and the Distribution of Wealth’
2. James Steuart ([1767]/1966), ‘Introduction’
3. Adam Smith ([1776]/1976), ‘Of the Natural Progress of Opulence’
4. François Quesnay ([1758]/1972) in the ‘Third Edition’
5. Karl Marx ([1885]/1956), ‘III: Schematic Presentation of Accumulation’ and ‘Supplementary Remarks’
6. Eugen v. Böhm-Bawerk ([1891]/1930), ‘The Theory of the Formation of Capital’
7. John Bates Clark (1899), ‘Capital and Capital-Goods Contrasted’
PART II DYNAMIC FACTORS, GROWTH AND STRUCTURAL CHANGE
8. Adam Smith ([1763]/1978), ‘Division of Labour’
9. John Rae (1834), ‘Of the Principle of the Division of Labor’
10. T.R. Malthus (1820), excerpt from ‘On the Immediate Causes of the Progress of Wealth’
11. David Ricardo ([1817]/1951), ‘On Rent’
12. Erik Dahmen (1955), ‘Technology, Innovation and International Industrial Transformation’
13. John Hicks (1973), ‘The Mainspring of Economic Growth’
PART III THE ANALYTICAL REPRESENTATION OF ECONOMIC STRUCTURE
14. Wassily Leontief (1928), ‘The Economy as a Circular Flow’
15. Ragnar Nurkse (1935), ‘The Schematic Representation of the Structure of Production’
16. J. v. Neumann (1937), ‘A Model of General Economic Equilibrium’
17. Piero Sraffa (1960), ‘On "Sub-Systems"’
18. Luigi L. Pasinetti (1973), ‘The Notion of Vertical Integration in Economic Analysis’
19. John Hicks (1973), ‘The Process and its Profiles’
20. Salvatore Baldone (1996), ‘Vertical Integration, the Temporal Structure of Production Processes and Transition Between Techniques’
21. Nicholas Georgescu-Roegen (1971), ‘The Analytical Representation of Process and the Economics of Production’
22. Herbert A. Simon and Albert Ando (1961), ‘Aggregation of Variables in Dynamic Systems’
23. Camilo Dagum (1969), ‘Structural Permanence’
24. R.M. Goodwin (1976), ‘Use of Normalized General Coordinates in Linear Value and Distribution Theory’
25. Michael A. Landesmann and Roberto Scazzieri (1990), ‘Specification of Structure and Economic Dynamics’
Name Index
Volume II: Growth, Cycles and Technological Change: Structural Approaches
Acknowledgements
An introduction by the editors to all three volumes appears in Volume I
PART I STRUCTURAL THEORIES OF ECONOMIC GROWTH
1. Adolph Lowe (1955), ‘Structural Analysis of Real Capital Formation’
2. John Hicks (1985), ‘Structural Disequilibrium-Traverse’ and ‘Traverse Again: The Austrian Method’
3. Luigi L. Pasinetti (1993), ‘Structural Dynamics’
4. Harald Hagemann (1990), ‘The Structural Theory of Economic Growth’
5. Alberto Quadrio-Curzio (1986), ‘Technological Scarcity: An Essay on Production and Structural Change’
6. William J. Baumol (1967), ‘Macroeconomics of Unbalanced Growth: The Anatomy of Urban Crisis’
PART II STRUCTURAL THEORIES OF ECONOMIC FLUCTUATIONS
7. Dennis Holme Robertson (1915), ‘Temptations to Over-Investment’ and ‘Aggravations of Depression’
8. A. Spiethoff ([1933]/1937), ‘Overproduction’
9. Albert Aftalion (1927), ‘The Theory of Economic Cycles Based on the Capitalistic Technique of Production’
10. Franco Nardini (1990), ‘Cycle-trend Dynamics in a Fixwage Neo-Austrian Model of Traverse’
11. Mario Amendola and Jean-Luc Gaffard (1998), ‘Change’
12. Ragnar Frisch (1933), ‘Propagation Problems and Impulse Problems in Dynamic Economics’
13. Eugen Slutzky (1937), ‘The Summation of Random Causes as the Source of Cyclic Processes’
14. Joseph Schumpeter (1928), ‘The Instability of Capitalism’
15. Philippe Aghion and Peter Howitt (1992), ‘A Model of Growth Through Creative Destruction’
16. Gerald Silverberg and Doris Lehnert (1993), ‘Long Waves and "Evolutionary Chaos" in a Simple Schumpeterian Model of Embodied Technical Change’
PART III TECHNICAL PROGRESS AND ECONOMIC CHANGE
17. Nicholas Kaldor ([1961]/1963), ‘Capital Accumulation and Economic Growth’
18. Kenneth J. Arrow (1962), ‘The Economic Implications of Learning by Doing’
19. W.E.G. Salter ([1960]/1969), ‘A Model of the Delay in the Utilisation of New Techniques of Production’ and ‘Factor Prices and the Adjustment Process’
20. Christopher Bliss (1968), ‘On Putty-Clay’
21. Paul A. David (1985), ‘Clio and the Economics of QWERTY’
22. W. Brian Arthur (1989), ‘Competing Technologies, Increasing Returns, and Lock-in by Historical Events’
23. Giovanni Dosi (1982), ‘Technological Paradigms and Technological Trajectories: A Suggested Interpretation of the Determinants and Directions of Technical Change’
24. Edward Ames and Nathan Rosenberg (1964), ‘The Progressive Division and Specialization of Industries’
25. Xiaokai Yang and Jeff Borland (1991), ‘A Microeconomic Mechanism for Economic Growth’
26. Danny T. Quah (1997), ‘Increasingly Weightless Economies’
Name Index
Volume III: Economic Developments: Patterns and Empirics
Acknowledgements
An introduction by the editors to all three volumes appears in Volume I
PART I DECOMPOSING ECONOMIC GROWTH: HISTORICAL PERSPECTIVES
1. W.G. Hoffmann ([1931]/1958), ‘The Pattern of Industrial Growth’
2. Allan G.B. Fisher (1939), ‘Production, Primary, Secondary and Tertiary’
3. Simon Kuznets (1971), ‘Summary and Interrelations’
4. Ingvar Svennilson (1954), ‘The Process of Economic Growth’
5. Nathan Rosenberg (1963), ‘Capital Goods, Technology, and Economic Growth’
6. Moses Abramovitz (1986), ‘Catching Up, Forging Ahead, and Falling Behind’
7. Bart Verspagen (1995), ‘Convergence in the Global Economy. A Broad Historical Viewpoint’
8. Danny T. Quah (1996), ‘Empirics for Economic Growth and Convergence’
PART II PATTERNS OF ECONOMIC DEVELOPMENT
9. P.N. Rosenstein-Rodan (1943), ‘Problems of Industrialisation of Eastern and South-Eastern Europe’
10. Paul Streeten (1959), ‘Unbalanced Growth’
11. Shigeru Ishikawa (1967), ‘Initial Conditions’
12. Hollis B. Chenery and Lance Taylor (1968), ‘Development Patterns: Among Countries and Over Time’
13. Sukhamoy Chakravarty (1980), ‘Relevance of Growth Models to Development Planning’
14. Kevin M. Murphy, Andrei Shleifer and Robert W. Vishny (1989), ‘Industrialization and the Big Push’
15. Chin-Lih Wang, Juh-Luh Sun and Tein-Chen Chou (1992), ‘Sources of Economic Growth and Structural Change: A Revised Approach’
16. Kiminori Matsuyama (1992), ‘Agricultural Productivity, Comparative Advantage, and Economic Growth’
PART III EMPLOYMENT AND TECHNOLOGY
17. Hans P. Neisser (1942), ‘"Permanent" Technological Unemployment: "Demand for Commodities Is Not Demand for Labor"’
18. Wassily Leontief and Faye Duchin (1986), ‘The Future Impact of Automation on Employment’
19. David M. Lilien (1982), ‘Sectoral Shifts and Cyclical Unemployment’
20. Eileen Appelbaum and Ronald Schettkat (1995), ‘Employment and Productivity in Industrialized Economies’
PART IV ECONOMIC AND ENVIRONMENTAL CHANGE
21. Nicholas Georgescu-Roegen (1986), ‘The Entropy Law and the Economic Process in Retrospect’
22. Charles Perrings (1987), ‘Closed Physical Systems: A Model’
23. Robert Ayres (1991), ‘Evolutionary Economics and Environmental Imperatives’
24. Robert Costanza and Herman E. Daly (1992), ‘Natural Capital and Sustainable Development’
PART V INSTITUTIONS AND ECONOMIC CHANGE
25. Irma Adelman and Cynthia Taft Morris (1967), ‘The Long-Run Analysis’
26. Adam Przeworski and Fernando Limongi (1993), ‘Political Regimes and Economic Growth’
27. Albert O. Hirschman (1994), ‘The On-and-Off Connection Between Political and Economic Progress’
28. Mancur Olson (1993), ‘Dictatorship, Democracy, and Development’
29. Douglass C. North (1984), ‘Transaction Costs, Institutions, and Economic History’
30. Paul A. David (1994), ‘Why Are Institutions the "Carriers of History"?: Path Dependence and the Evolution of Conventions, Organizations and Institutions’
PART VI TESTING FOR STRUCTURAL CHANGE
31. T.C. Koopmans and O. Reiersøl (1950), ‘The Identification of Structural Characteristics’
32. R.L. Brown, J. Durbin and J.M. Evans (1975), ‘Techniques for Testing the Constancy of Regression Relationships over Time’
33. Dale J. Poirier (1991), ‘The Econometrics of Structural Change: A Retrospective View’
34. Jushan Bai and Pierre Perron (1998), ‘Estimating and Testing Linear Models with Multiple Structural Changes’
35. David F. Hendry (2000), ‘On Detectable and Non-detectable Structural Change’
Name Index