By Choice and by Necessity: Entrepreneurship and Self-Employment in the Developing World Over half of all workers in the developing world are self-employed. Although some selfemployment is chosen by entrepreneurs with well-defined projects and ambitions, roughly two thirds results from individuals having no better alternatives. The importance of selfemployment in the overall distribution of job...

In a multi-industry growth model, firms require external funds to conduct productivityenhancing R&D, and face financing constraints. The cost of research differs across industries, so that financing constraints hinder productivity growth in some industries more than in others. Equilibrium industry dynamics map into a differences-indifferences regression specification where industry growth depen...

Agricultural industries, as well other are experiencing profound changes a result of Industry 4.0. A key enabler technology that is becoming increasingly incorporated into agricultural equipment combination cyber-physical systems, machine learning, the Internet things, robots, artificial intelligence, cloud, and cognitive computing, which all technologies allow sector to achieve this transforma...

One important determinant of the speed and success of transition will be the efficiency of transformation and development of the infrastructure sectors. A great deal of attention has been paid to issues such as privatisation, restructuring, user prices, and terms of access in these sectors, regarding both developed and developing countries. Some issues regarding vertical restructuring are notab...

Two traditional explanations for structural changes are sector-biased technological progress and non-homothetic preferences. This paper integrates both into an otherwise standard growth model and quantitatively evaluates them vis-a-vis time series. The exercise identifies a set of puzzles for standard theories: (i) the model cannot account for the steep decline in manufacturing and rise in serv...

Regionalization is a part of globalization and a dynamic process of marching towards globalization. The so-called NADEs (Northeast Asia’s Dynamic Economies) including Japan, Korea and China are expected to lead economic growth in the Asia-Pacific region. This paper analyzes the trade and investment relationships among the three countries, points out the necessity for their technological coopera...

One important determinant of the speed and success of transition will be the efficiency of transformation and development of the infrastructure sectors. A great deal of attention has been paid to issues such as privatisation, restructuring, user prices, and terms of access in these sectors, regarding both developed and developing countries. Some issues regarding vertical restructuring are notab...

This paper builds a model of growth through industrialization, where machines replace workers in a growing number of tasks. This enables the economy to experience long-run growth, as machines become servants of humans, and as their number grows unboundedly. The mechanism that drives growth is feedback between industrialization and wages. High wages provide incentives to use machines, while indu...

This paper analyzes the relationship between industrialization and technology in detail. Three main conclusions are obtained: (i) the crucial factor for the existence of a poverty trap is the degree of substitutability among intermediate inputs; (ii) the e1ects of technological progress in the manufactured good sector and the intermediate goods sector on industrialization di1er with the degree ...

In economic development, structural change among the three main sectors of an economy accompanies with aggregate economic growth. Nevertheless the question whether economic growth causes structural change or change in the economic structure causes aggregate growth is still unanswered. To shed some more light on this issue, this study examines a Grangercausality test in a panel environment to de...