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Benchmarking Structural Transformation Across the World
Author: Ms. Era Dabla-Norris, Mr. Alun H. Thomas, Mr. Rodrigo Garcia-Verdu, and Ms. Yingyuan Chen
Series:
IMF Working Papers
Volume/Issue:
Volume 2013: Issue 176
Language:
English
Publication Date:
31 Jul 2013
DOI:
https://doi.org/10.5089/9781484359662.001
ISBN:
9781484359662
ISSN:
1018-5941
Pages:
44
Keywords:
WP; quantile regression; agriculture shares distribution; manufacturing share; sectoral share; labor market; Structural Transformation; Agriculture; Manufacturing; Services; Panel Data; output share; services sectors share; quantile estimate; Agricultural sector; Services sector; Personal income; Sub-Saharan Africa; Central and Eastern Europe
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper documents stylized facts on the process of structural transformation around the world and empirically analyzes its determinants using data on real value added by sector of economic activity (agriculture, manufacturing and services) for a panel of 168 countries over the period 1970-2010. The analysis points to large differences in sector shares both across and within regions as well as for countries at similar levels of economic development. Using both linear and quantile regression methods, it finds that a large proportion of the cross-country variation in sector shares can be accounted for by country characteristics, such as real GDP per capita, demographic structure, and population size. It also finds that policy and insitutional variables, such as product market reforms, openness to trade, human and physical capital, and finance improve the baseline model’s ability to account for the variation in sectoral shares across countries.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund