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Structural Transformation in Developed and Developing Countries
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Abstract
Differences in key features of the development process across rich and poor countries can provide clues to the sources of the large variation of cross-country income. Kuznets included structural transformation as one of six stylized facts of economic development, nding that developed countries all followed the same process. In this paper, I compare structural transformation processes in developed and developing countries. I nd that developing countries follow distinct structural transformation paths that deviate from that followed by developed countries. A puzzling nding is the presence of substantial sectoral changes during times of economic stagnation or decline. --Africa,Asia,Latin America,Structural Transformation,Economic Development,Structural Change