Chenery / Syrquin / Taylor Economic Structure and Performance

1. Auflage 2014
ISBN: 978-1-4832-5791-4
Verlag: Elsevier Science & Techn.
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 610 Seiten, Web PDF

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.

Autoren/Hrsg.

Chenery, Hollis B.

Syrquin, Moshe

Taylor, Lance

Westphal, Larry E.

Inhaltsverzeichnis

1;Front Cover;1
2;Economic Structure and Performance: Essays in Honor of Hollis B. Chenery;4
3;Copyright Page;5
4;Table of Contents;6
5;Contributors;14
6;Preface;16
6.1;Acknowledgments;21
7;Publications of Hollis B. Chenery;22
8;PART I: Structure;28
8.1;Chapter 1. The Chenery Analysis and Some Other Considerations;30
8.1.1;Introduction;30
8.1.2;Comparison of Egypt and Korea;34
8.1.3;Differences in Goals;37
8.1.4;Differences in Managing Public Enterprise;38
8.1.5;Differences in Managing the Incentives to Private Enterprise;40
8.1.6;Differences in Managing the Implementation of Policy;41
8.1.7;Differences in the Management of Planning;43
8.1.8;The Cultural Milieu;45
8.1.9;Notes;47
8.1.10;References;47
8.2;Chapter 2. Typology in Development Theory: Retrospective and Prospects;50
8.2.1;Introduction;50
8.2.2;Convergent Approaches Outlined;52
8.2.3;A Brief Demonstration of the Comparative Historical
Analysis Approach;56
8.2.4;Prospects;64
8.2.5;Notes;69
8.2.6;References;70
8.3;Chapter 3. Patterns of Economic Growth, 1850-1914, or Chenery-Syrquin in Historical Perspective;72
8.3.1;Introduction;72
8.3.2;Method;74
8.3.3;Data;74
8.3.4;Statistical Results: All Countries;76
8.3.5;Comparison of Historical with Contemporary Patterns;83
8.3.6;Typologies of Industrialization;87
8.3.7;Conclusions;94
8.3.8;Appendix A: Summary Definitions of Classificatory Indicators;95
8.3.9;Notes;99
8.3.10;References;100
8.4;Chapter 4. Resource Reallocation and Productivity Growth;102
8.4.1;Introduction;102
8.4.2;Labor Shifts and the Growth of Labor Productivity: Partial Measures;104
8.4.3;Labor Shifts and the Growth of Labor Productivity:
Partial Measures;104
8.4.4;The Gains from Reallocation: Empirical Results;111
8.4.5;Conclusions;121
8.4.6;Appendix A;123
8.4.7;Notes;125
8.4.8;References;127
8.5;Chapter 5.
Class Alliances and Surplus Labor Time;130
8.5.1;Introduction;130
8.5.2;Surplus Labor Time;131
8.5.3;Alliance and Conflict;139
8.5.4;Notes;141
8.5.5;References;141
8.6;Chapter 6. Some Elements of a Marxist Theory of Socialist Economic Development;142
8.6.1;Introduction: Assumptions and Definitions;142
8.6.2;A Model of Socialist and Communist Goals;144
8.6.3;Strategies for Attaining Socialism;146
8.6.4;The Strategy of Socialist Transformation;148
8.6.5;The Strategy of Raising the Productive Forces;153
8.6.6;Combined and Mixed Strategies;154
8.6.7;Productive Forces and Relations of Production;155
8.6.8;Conclusions;157
8.6.9;Notes;157
9;PART II:
Strategy;160
9.1;Chapter 7. Comparative Advantage and Development Policy 20 Years Later;162
9.1.1;Introduction;162
9.1.2;Trade Policy versus Growth, circa 1960;163
9.1.3;Experience with Export-Led Growth;164
9.1.4;Inner- and Outer-Oriented Strategies Contrasted;166
9.1.5;Why is Performance Different?;170
9.1.6;Summary and Conclusions;179
9.1.7;Notes;181
9.1.8;References;182
9.2;Chapter 8. Development Problems of the Mineral-Rich
Countries;184
9.2.1;Introduction;184
9.2.2;Mineral Policy Problems in General;186
9.2.3;The Nature of Mining Projects;189
9.2.4;The Automatic Adjustment Mechanism in MRCs;190
9.2.5;Some Implications;198
9.2.6;Notes;200
9.2.7;References;202
9.3;Chapter 9. Step-by-Step Liberalization of a Controlled Economy: Experience in Egypt;206
9.3.1;Liberalization as a Step-by-Step Process;206
9.3.2;The System of Economic Controls in Egypt in the
Early 1970s;208
9.3.3;Macroeconomic Trends during Liberalization;209
9.3.4;Liberalization of Exchange Controls and Exchange Rates;213
9.3.5;Liberalization of Arrangements for Private Companies;217
9.3.6;The Liberalization of Other Areas;223
9.3.7;Reasonable Principles for Liberalization;224
9.3.8;Notes;229
9.3.9;References;229
9.4;Chapter 10.
The Future of Incomes Policies;232
9.4.1;Introduction;232
9.4.2;Income Markets Are Imperfect;233
9.4.3;Incomes Policies Are Indispensable;235
9.4.4;Not To Be Restricted to Wages;237
9.4.5;Incomes from Professions: Residual Incomes;238
9.4.6;Social Productivity as a Possible Criterion;240
9.4.7;References;242
9.5;Chapter 11. Urbanization and Income Distribution: The Case of Taiwan, 1966-1980;244
9.5.1;Introduction;244
9.5.2;A Classification of Sectors by Degrees of Urbanization;245
9.5.3;Income Disparities by Urbanization;247
9.5.4;Effects of Changes in the Sectoral Distribution on
Changes in the Economy;249
9.5.5;Urbanization and the Standard of Living;252
9.5.6;Reasons for the Relatively Equitable Distribution;257
9.5.7;Conclusions;259
9.5.8;Notes;260
9.5.9;References;261
9.6;Chapter 12. Reciprocal Trade Growth: The Latin American Integration Experience;262
9.6.1;Introduction;262
9.6.2;The Benefits of Economic Integration in a Two-Gap Model;265
9.6.3;The Evolution of the Latin American Free Trade Association;271
9.6.4;Implications;280
9.6.5;Notes;285
9.6.6;References;286
10;PART III:
Adjustment;288
10.1;Chapter 13. Growth with Limited Supplies of Foreign Exchange: A Reappraisal of the Two-Gap Model;290
10.1.1;Introduction;290
10.1.2;Growth and Aid;292
10.1.3;Growth and Debt;300
10.1.4;Conclusions;304
10.1.5;Notes;306
10.1.6;References;306
10.2;Chapter 14. Capital, Foreign Exchange, and Growth: The Two-Gap and Labor-Income-Floor
Views;308
10.2.1;Introduction;308
10.2.2;The Simplified LIF and Two-Gap Models;310
10.2.3;The Impact of Aid on the Economy;314
10.2.4;Impacts of Aid in the LIF and Two-gap Models:A Comparison;317
10.2.5;Conclusion;319
10.2.6;Acknowledgments;319
10.2.7;Notes;319
10.2.8;References;320
10.3;Chapter 15. What Role Does Equity Play in the International Distribution of Development
Aid?;322
10.3.1;Introduction;322
10.3.2;The Model;323
10.3.3;Functional Forms;326
10.3.4;Data;329
10.3.5;Basic Estimates with Neither Country-Specific Nor
Period Effects;331
10.3.6;Extended Model Estimates with Country-Specific and
Year-Specific Effects;333
10.3.7;Summary;339
10.3.8;Acknowledgments;339
10.3.9;Notes;339
10.3.10;References;341
10.4;Chapter 16. Adjustment Policies and Development Strategies in Sub-Saharan Africa, 1973-1978;344
10.4.1;Introduction;344
10.4.2;Analyzing External Shocks and Adjustment Policies in Oil-Importing Sub-Saharan African Countries;346
10.4.3;The Balance-of-Payments Effects of External Shocks;350
10.4.4;The Balance-of-Payments Effects of the Policies Applied;353
10.4.5;Alternative Development Strategies: An Evaluation;357
10.4.6;Conclusions;364
10.4.7;Notes;366
10.4.8;References;367
10.5;Chapter 17.
The 1940s in Latin America;368
10.5.1;Introduction;368
10.5.2;External Shocks and Trends;370
10.5.3;Policies;373
10.5.4;Performance;379
10.5.5;The 1940s Legacy;384
10.5.6;Acknowledgments;388
10.5.7;References;388
10.6;Chapter 18. Petrodollars and the Different Growth Performance of Industrial and Middle-Income Countries in the 1970s;390
10.6.1;Introduction;390
10.6.2;Production, Investment, and the Balance of Payment;393
10.6.3;Determining the Real Interest Rate in a Multicountry
Model;398
10.6.4;The Different Response of Industrial and Middle-Income Countries;404
10.6.5;Comparative Empirical Evidence;408
10.6.6;Concluding Remarks;414
10.6.7;Acknowledgments;415
10.6.8;Notes;415
10.6.9;References;417
10.7;Chapter 19. A Multisector Approach to Globa lEconometric Modeling, with Special Reference to Heavy Industries;418
10.7.1;Introduction;418
10.7.2;The Model;419
10.7.3;Empirical Results;423
10.7.4;Global Simulation of the U.S. Discount Rate Reduction;426
10.7.5;Concluding Remarks;431
10.7.6;Acknowledgments;431
10.7.7;Notes;431
10.7.8;References;431
11;PART IV:
Models;434
11.1;Chapter 20. North-South Trade, Capital Flows, and Economic Growth: An Almost Neoclassical Model;436
11.1.1;Introduction;436
11.1.2;Key Assumptions: Single-Period Constraints;438
11.1.3;Intertemporal Relations;440
11.1.4;Numerical Assumptions;442
11.1.5;Reference Case Results;445
11.1.6;Alternative Rates of Capital Flows;448
11.1.7;Extensions and Suggestions for Additional Research;451
11.1.8;References;454
11.2;Chapter 21. Equilibrium and Prices in Multisector Models;456
11.2.1;Introduction;456
11.2.2;Optimization and Market Equilibrium;459
11.2.3;Competitive Equilibrium Models;463
11.2.4;Model Specification and Empirical Solution;466
11.2.5;Prices in Planning Models;468
11.2.6;Macroeconomic Equilibrium;470
11.2.7;Conclusion;474
11.2.8;Notes;475
11.2.9;References;476
11.3;Chapter 22. On the Uses and Abuses of Economywide Models in Development Policy Analysis;478
11.3.1;Introduction;478
11.3.2;CGEs as Static Models;482
11.3.3;Time and Money;489
11.3.4;Income Distribution;492
11.3.5;Some Possible Uses of CGEs;493
11.3.6;Consistent Plans;493
11.3.7;Concluding Discussion;498
11.3.8;Notes;501
11.3.9;References;502
11.4;Chapter 23. Consequences of Changes in Subsidy Policy: The Egyptian Case;504
11.4.1;Introduction;504
11.4.2;The Magnitude and Distribution of Subsidies in Egypt;505
11.4.3;Microeconomic Theory and the Design of Tests of Changes in Subsidy Policy;507
11.4.4;Tests of the Consequences of Subsidy Adjustments;510
11.4.5;Conclusions;517
11.4.6;Notes;518
11.4.7;References;519
11.5;Chapter 24. Macroeconomic Adjustment in a Computable General Equilibrium Model for India;520
11.5.1;Introduction;520
11.5.2;Real-Side Adjustment;521
11.5.3;Adjustment with Several Sectors;526
11.5.4;Money and Interest;528
11.5.5;The India Model (Jacobian);530
11.5.6;Numerical Results: Investment Increase and Devaluation;533
11.5.7;The Role of Money;537
11.5.8;Further Observations;539
11.5.9;Acknowledgments;540
11.5.10;Notes;540
11.5.11;References;541
11.6;Chapter 25. Active Life Profiles for Different Social Groups;542
11.6.1;Principles of Construction;542
11.6.2;The Background to the Development of Life Profiles;544
11.6.3;The International Research Program;547
11.6.4;Practical Problems;548
11.6.5;Preliminary Results;549
11.6.6;Index Number Construction;553
11.6.7;Research Possibilities;555
11.6.8;Costs and Benefits of Constructing Life Profiles;557
11.6.9;Notes;563
11.6.10;References;564
11.6.11;Appendix: Life Profiles and Transition Matrices in Organizing Sociodemographic Data;565
11.7;Chapter 26. "The Interdependence of Investment Decisions" Revisited;570
11.7.1;Introduction;570
11.7.2;Statement of the Mixed Integer Programming Model;571
11.7.3;A Criterion for Isolating Make-Buy Interdependence;574
11.7.4;Cost Implications of Neglecting Interdependence;590
11.7.5;Extensions and Limitations;592
11.7.6;Appendix: An Algorithm for Solution cum Problem Reduction;594
11.7.7;Notes;596
11.7.8;References;598
12;Index;600