Economic Structure and Performance (eBook)

Hollis B. Chenery (Autor)

Moshe Syrquin, Lance Taylor, Larry E. Westphal (Herausgeber)

eBook Download: PDF

2014 | 1. Auflage
610 Seiten
Elsevier Science (Verlag)
978-1-4832-5791-4 (ISBN)

Infos

Economic Structure and Performance: Essays in Honor of Hollis B. Chenery briefly reviews the work of Hollis Chenery in the field of economics. This book discusses the underlying themes in Chenery's work, including structure, strategy, adjustment, and models. Organized into four parts encompassing 26 chapters, this book begins with an overview of the patterns of structural change and their relation to growth. This text then examines the objectives, measures, and implementation of policy, as well as administrative capabilities and cultural characteristics. Other chapters compare Chenery's econometric analysis of development patterns with the historical analyses and suggest that the two approaches complement each other. This book discusses as well the persistence of disequilibrium in segments of the economy. The final chapter deals with simple criteria for detecting critical interdependencies and a formula for measuring their welfare consequences. This book is a valuable resource for economists, industrialists, foreign capitalists, and social scientists.

Inhalt

Front Cover 1
Economic Structure and Performance: Essays in Honor of Hollis B. Chenery 4
Copyright Page 5
Table of Contents 6
Contributors 14
Preface 16
Acknowledgments 21
Publications of Hollis B. Chenery 22
PART I: Structure 28
Chapter 1. The Chenery Analysis and Some Other Considerations 30
Introduction 30
Comparison of Egypt and Korea 34
Differences in Goals 37
Differences in Managing Public Enterprise 38
Differences in Managing the Incentives to Private Enterprise 40
Differences in Managing the Implementation of Policy 41
Differences in the Management of Planning 43
The Cultural Milieu 45
Notes 47
References 47
Chapter 2. Typology in Development Theory: Retrospective and Prospects 50
Introduction 50
Convergent Approaches Outlined 52
A Brief Demonstration of the Comparative Historical 
56 
Prospects 64
Notes 69
References 70
Chapter 3. Patterns of Economic Growth, 1850-1914, or Chenery-Syrquin in Historical Perspective 72
Introduction 72
Method 74
Data 74
Statistical Results: All Countries 76
Comparison of Historical with Contemporary Patterns 83
Typologies of Industrialization 87
Conclusions 94
Appendix A: Summary Definitions of Classificatory Indicators 95
Notes 99
References 100
Chapter 4. Resource Reallocation and Productivity Growth 102
Introduction 102
Labor Shifts and the Growth of Labor Productivity: Partial Measures 104
Labor Shifts and the Growth of Labor Productivity: 
104 
The Gains from Reallocation: Empirical Results 111
Conclusions 121
Appendix A 123
Notes 125
References 127
Chapter 5. 
130 
Introduction 130
Surplus Labor Time 131
Alliance and Conflict 139
Notes 141
References 141
Chapter 6. Some Elements of a Marxist Theory of Socialist Economic Development 142
Introduction: Assumptions and Definitions 142
A Model of Socialist and Communist Goals 144
Strategies for Attaining Socialism 146
The Strategy of Socialist Transformation 148
The Strategy of Raising the Productive Forces 153
Combined and Mixed Strategies 154
Productive Forces and Relations of Production 155
Conclusions 157
Notes 157
PART II: 
160 
Chapter 7. Comparative Advantage and Development Policy 20 Years Later 162
Introduction 162
Trade Policy versus Growth, circa 1960 163
Experience with Export-Led Growth 164
Inner- and Outer-Oriented Strategies Contrasted 166
Why is Performance Different? 170
Summary and Conclusions 179
Notes 181
References 182
Chapter 8. Development Problems of the Mineral-Rich 
184 
Introduction 184
Mineral Policy Problems in General 186
The Nature of Mining Projects 189
The Automatic Adjustment Mechanism in MRCs 190
Some Implications 198
Notes 200
References 202
Chapter 9. Step-by-Step Liberalization of a Controlled Economy: Experience in Egypt 206
Liberalization as a Step-by-Step Process 206
The System of Economic Controls in Egypt in the 
208 
Macroeconomic Trends during Liberalization 209
Liberalization of Exchange Controls and Exchange Rates 213
Liberalization of Arrangements for Private Companies 217
The Liberalization of Other Areas 223
Reasonable Principles for Liberalization 224
Notes 229
References 229
Chapter 10. 
232 
Introduction 232
Income Markets Are Imperfect 233
Incomes Policies Are Indispensable 235
Not To Be Restricted to Wages 237
Incomes from Professions: Residual Incomes 238
Social Productivity as a Possible Criterion 240
References 242
Chapter 11. Urbanization and Income Distribution: The Case of Taiwan, 1966-1980 244
Introduction 244
A Classification of Sectors by Degrees of Urbanization 245
Income Disparities by Urbanization 247
Effects of Changes in the Sectoral Distribution on 
249 
Urbanization and the Standard of Living 252
Reasons for the Relatively Equitable Distribution 257
Conclusions 259
Notes 260
References 261
Chapter 12. Reciprocal Trade Growth: The Latin American Integration Experience 262
Introduction 262
The Benefits of Economic Integration in a Two-Gap Model 265
The Evolution of the Latin American Free Trade Association 271
Implications 280
Notes 285
References 286
PART III: 
288 
Chapter 13. Growth with Limited Supplies of Foreign Exchange: A Reappraisal of the Two-Gap Model 290
Introduction 290
Growth and Aid 292
Growth and Debt 300
Conclusions 304
Notes 306
References 306
Chapter 14. Capital, Foreign Exchange, and Growth: The Two-Gap and Labor-Income-Floor 
308 
Introduction 308
The Simplified LIF and Two-Gap Models 310
The Impact of Aid on the Economy 314
Impacts of Aid in the LIF and Two-gap Models:A Comparison 317
Conclusion 319
Acknowledgments 319
Notes 319
References 320
Chapter 15. What Role Does Equity Play in the International Distribution of Development 
322 
Introduction 322
The Model 323
Functional Forms 326
Data 329
Basic Estimates with Neither Country-Specific Nor 
331 
Extended Model Estimates with Country-Specific and 
333 
Summary 339
Acknowledgments 339
Notes 339
References 341
Chapter 16. Adjustment Policies and Development Strategies in Sub-Saharan Africa, 1973-1978 344
Introduction 344
Analyzing External Shocks and Adjustment Policies in Oil-Importing Sub-Saharan African Countries 346
The Balance-of-Payments Effects of External Shocks 350
The Balance-of-Payments Effects of the Policies Applied 353
Alternative Development Strategies: An Evaluation 357
Conclusions 364
Notes 366
References 367
Chapter 17. 
368 
Introduction 368
External Shocks and Trends 370
Policies 373
Performance 379
The 1940s Legacy 384
Acknowledgments 388
References 388
Chapter 18. Petrodollars and the Different Growth Performance of Industrial and Middle-Income Countries in the 1970s 390
Introduction 390
Production, Investment, and the Balance of Payment 393
Determining the Real Interest Rate in a Multicountry 
398 
The Different Response of Industrial and Middle-Income Countries 404
Comparative Empirical Evidence 408
Concluding Remarks 414
Acknowledgments 415
Notes 415
References 417
Chapter 19. A Multisector Approach to Globa lEconometric Modeling, with Special Reference to Heavy Industries 418
Introduction 418
The Model 419
Empirical Results 423
Global Simulation of the U.S. Discount Rate Reduction 426
Concluding Remarks 431
Acknowledgments 431
Notes 431
References 431
PART IV: 
434 
Chapter 20. North-South Trade, Capital Flows, and Economic Growth: An Almost Neoclassical Model 436
Introduction 436
Key Assumptions: Single-Period Constraints 438
Intertemporal Relations 440
Numerical Assumptions 442
Reference Case Results 445
Alternative Rates of Capital Flows 448
Extensions and Suggestions for Additional Research 451
References 454
Chapter 21. Equilibrium and Prices in Multisector Models 456
Introduction 456
Optimization and Market Equilibrium 459
Competitive Equilibrium Models 463
Model Specification and Empirical Solution 466
Prices in Planning Models 468
Macroeconomic Equilibrium 470
Conclusion 474
Notes 475
References 476
Chapter 22. On the Uses and Abuses of Economywide Models in Development Policy Analysis 478
Introduction 478
CGEs as Static Models 482
Time and Money 489
Income Distribution 492
Some Possible Uses of CGEs 493
Consistent Plans 493
Concluding Discussion 498
Notes 501
References 502
Chapter 23. Consequences of Changes in Subsidy Policy: The Egyptian Case 504
Introduction 504
The Magnitude and Distribution of Subsidies in Egypt 505
Microeconomic Theory and the Design of Tests of Changes in Subsidy Policy 507
Tests of the Consequences of Subsidy Adjustments 510
Conclusions 517
Notes 518
References 519
Chapter 24. Macroeconomic Adjustment in a Computable General Equilibrium Model for India 520
Introduction 520
Real-Side Adjustment 521
Adjustment with Several Sectors 526
Money and Interest 528
The India Model (Jacobian) 530
Numerical Results: Investment Increase and Devaluation 533
The Role of Money 537
Further Observations 539
Acknowledgments 540
Notes 540
References 541
Chapter 25. Active Life Profiles for Different Social Groups 542
Principles of Construction 542
The Background to the Development of Life Profiles 544
The International Research Program 547
Practical Problems 548
Preliminary Results 549
Index Number Construction 553
Research Possibilities 555
Costs and Benefits of Constructing Life Profiles 557
Notes 563
References 564
Appendix: Life Profiles and Transition Matrices in Organizing Sociodemographic Data 565
Chapter 26. "The Interdependence of Investment Decisions" Revisited 570
Introduction 570
Statement of the Mixed Integer Programming Model 571
A Criterion for Isolating Make-Buy Interdependence 574
Cost Implications of Neglecting Interdependence 590
Extensions and Limitations 592
Appendix: An Algorithm for Solution cum Problem Reduction 594
Notes 596
References 598
Index 600

Produkt-Details

• Erscheint lt. Verlag: 10.5.2014
• Sprache: englisch
• Themenwelt: Recht / Steuern ► EU / Internationales Recht
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht ► Bank- und Kapitalmarktrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• ISBN-10: 1-4832-5791-6 / 1483257916
• ISBN-13: 978-1-4832-5791-4 / 9781483257914