29.10.08 Structural Change and the Growth of Industrial Sectors: Empirical Test of a GPT Model
NUPI-notat 745 | 51 sider.
Notatet undersøker empirisk relevans ved en modell for strukturelle endringer og vekst i idustrisektoren.
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This paper investigates the empirical relevance of a model of structural change and the growth of industrial sectors. The model analyses the process of diffusion of general-purpose technologies (GPTs) and how this affects the dynamic performance of manufacturing and service industries. The empirical analysis studies the dynamics and the determinants of labour productivity growth of a large number of sectors in 18 OECD countries over the period 1970-2005. The results of dynamic panel data and cross-sectional analysis provide support for the empirical validity of the model. Industries that are close to the core of the emerging GPT based on information and communication technologies (ICTs) are characterized by greater innovative capabilities and have recently experienced a more dynamic performance. Relatedly, countries that have been able to shift their industrial structure towards these high-opportunity manufacturing and service industries have grown more rapidly.
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