The Impact of Intersectoral Labor Reallocationon Economic Growth
Volume/Issue:
Volume 2000
Issue 104
Publication date: June 2000
ISBN: 9781451852752
$20.00
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Topics covered in this book
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Investments and Securities-General , Economics- Macroeconomics , Public Finance , WP , growth rate , Growth , labor reallocation , labor efficiency , education , reallocation effect , reallocation variable , reallocation decision , labor efficiency index , labor reallocation-driven growth , country effect , labor productivity gap , labor reallocation variable , Public expenditure review , Labor productivity , Capital accumulation , Sub-Saharan Africa , South Asia , East Asia , Africa
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Summary
This study seeks to explain economic growth differences in an aggregate production function framework, where labor reallocation from agriculture to modern sectors influences labor efficiency growth. The econometric analysis uses a panel of 65 countries over 1960-90. The results highlight: (a) the differences in labor reallocation impact on growth, controlled for using the intersectoral wedge in labor productivities; (b) the significance of labor reallocation effects, even after controlling for capital accumulation, initial conditions, and country effects; (c) the role of slow labor reallocation in explaining the dummy variable for Sub-Saharan Africa; (d) the role of initial education levels in explaining differences in labor reallocation rates.
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