| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27731 |
| 来源ID | Working Paper 27731 |
| The Stable Transformation Path | |
| Francisco J. Buera; Joseph P. Kaboski; Martí Mestieri; Daniel G. O'; Connor | |
| 发表日期 | 2020-08-24 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Dynamic models of structural transformation are often non-stationary, precluding balanced growth path (BGP) analysis. We develop a generalization of the BGP concept that we call a Stable Transformation Path (STraP). The STraP characterizes the medium-term dynamics of the economy in a turnpike sense; it is the non-stationary path toward which the economy (quickly) con- verges from an arbitrary initial capital stock. Calibrated simulations demonstrate that these medium-term dynamics have important quantitative implications for structural transformation, investment, and growth, including slow convergence. Medium-term dynamics alone account for the observed 40% secular decline in average growth rates across stages of development. |
| 主题 | Development and Growth ; Development ; Growth and Productivity |
| URL | https://www.nber.org/papers/w27731 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/585403 |
| 推荐引用方式 GB/T 7714 | Francisco J. Buera,Joseph P. Kaboski,Martí Mestieri,et al. The Stable Transformation Path. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27731.pdf（4319KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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