Fiscal policy and structural transformation in developing economies

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4 Citationer (Scopus)

Abstrakt

Developing economies with high levels of open or hidden unemployment face structural transformation problems. Unlike in mature economies there are no structural aggregate demand problems, and sustained aggregate demand stimulus can lead to a profit squeeze in the modern sector and deindustrialization. Adaptations of ‘functional finance’ to developing economies should aim to stabilize the level and composition of demand at values that are consistent with a target rate of growth of the modern sector. Populist temptations, however, may lead to deindustrialization.

OriginalsprogEngelsk
TidsskriftStructural Change and Economic Dynamics
Vol/bind56
Sider (fra-til)129-140
Antal sider12
ISSN0954-349X
DOI
StatusUdgivet - mar. 2021

Bibliografisk note

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© 2020 Elsevier B.V.

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