The BRICS countries (Brazil, Russia, India, China, and South Africa) have seen varying GDP growth rates, averaging around 5 percent in the 1990s, rising to 8 percent in the 2000s, and about 5.5 percent from 2011 to 2020. Structural change and labour productivity are key for sustained economic...

Tertiarisation of labour market has globally been associated with economic progress. But in developing countries, labour market deformities may push people into service economy out of distress also. This paper examines the tertiarisation process in Indian labour market to bring out the reasons...

Informal sector is now seen as the next engine of growth for the Indian economy. Given their potential for employment creation and their strong linkage effects with the other sectors of the economy, they have an important role in regional development. This paper aims to provide an overview of...

Technology variations among countries account for a significant part of their income differences. In this paper, a firm’s technology choice is embedded in a search theoretic framework for unemployment. A more advanced technology is assumed to have a higher set up cost, but it is more...

In this infinite horizon model, unemployment results from the existence of efficiency wages. Consumers choose saving optimally and there is capital accumulation. Firms producing intermediate goods engage in oligopolistic competition and choose technologies to maximize profits. A more advanced...

Artificial Intelligence (AI) has been embraced enthusiastically by Africans as a new resource for African development. AI could improve well-being by enabling innovation in business, education, health, ecology, urban planning, industry, etc. However, the high expectations could be little more...

The impact of capital accumulation on job creation is an important and interesting issue in economic development. This model provides a general-equilibrium framework for studying technology choice with unemployment in a developing economy based on microfoundations. Unemployment in the urban...

In the context of an unprecedented decline in the manufacturing employment driven by the informal sector in the post-2010 period, the paper examines the structural compositional changes in the Informal Manufacturing Sector (IMS) in India, the largest employer within the manufacturing sector....

This comment discusses the consequences of a potential fourth industrial-digital revolution (“Industry 4.0”) from a labour market perspective. In particular, we look at the development through the lens of a comprehensive macroeconomic modelling approach for Germany. Additionally, the...

Given the magnitude of services growth and its inter-linkages with other sectors of the economy, it is important to understand the impact of services sector on other macro-economic variables. The present paper attempts to identify some of the critical issues in India’s services-led growth and...