The Plausibility of Agriculture-Led Development.
Within the context of a simple dynamic general equilibrium framework, the model proposed in this paper formally characterizes the path in which a successful transformation in agriculture as a result of an improvement in agricultural technology can conceivably help some developing countries raise rural income, which in turn boosts effective demand for domestically produced, labor-intensive manufactured goods. Consequently, the price of nontraded manufactures goes up, leading to higher production in this sector, and subsequently higher wages. In the longer run, higher wage levels would result in larger aggregate savings, which in turn finances the economy's industrialization. Copyright 2000 by Blackwell Publishing Ltd
Year of publication: |
2000
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Authors: | Nguyen, Dung |
Published in: |
Review of Development Economics. - Wiley Blackwell. - Vol. 4.2000, 2, p. 204-18
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Publisher: |
Wiley Blackwell |
Saved in:
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