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01619nam a2200193Ia 4500 |
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10.35866-caujed.2019.44.2.002 |
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220511s2019 CNT 000 0 und d |
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|a 02548372 (ISSN)
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| 245 |
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|a Structural change and the intersectoral terms of trade: Southeast Asian experience
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| 260 |
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|b Economic Research Institute of Chung-Ang University
|c 2019
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| 856 |
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|z View Fulltext in Publisher
|u https://doi.org/10.35866/caujed.2019.44.2.002
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|a In this paper it is hypothesized that premature deindustrialization is related to the intersectoral terms of trade between agriculture and manufacturing. Using a dualistic model it is shown that factors which raise the price of agricultural goods relative to manufactured goods slow the rate of structural change from agriculture to manufacturing. Data from a number of Southeast Asian countries is used to create a panel data set to test the hypothesis. Indeed a rise in the relative price of agricultural goods does indeed slow structural change and that on important factor raising this relative price ratio has been the elimination of policies which indirectly tax agriculture. The policy implication is that in order to avoid this unexpected consequence of policy reform government policy must be aimed at dramatically increasing productivity growth in agriculture. © 2019 Economic Research Institute of Chung-Ang University.
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|a Deindustrialization
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|a Dualism
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|a Intersectoral terms of trade
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|a Southeast asia
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|a Grabowski, R.
|e author
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|a Self, S.
|e author
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| 773 |
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|t Journal of Economic Development
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