Structural change and unbalanced economic growth in open developing economies

Anirban Sengupta, Subhasankar Chattopadhyay and Apostolos Serletis
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Anirban Sengupta: Indian Institute of Management-Bodhgaya
Subhasankar Chattopadhyay: Indian Institute of Management-Indore

Journal of Economics and Finance, 2023, vol. 47, issue 4, No 2, 844-858

Abstract: Abstract In this paper we study the impact of international capital flows on the real exchange rate and sector allocation of labour and capital in open developing economies having demand side asymmetries (non-homothetic preferences) and supply side asymmetries (differences in capital intensities and productivity growth rates across sectors). We propose new channels, namely structural change and unbalanced growth, through which international capital flows can cause real exchange rate changes and sector reallocations of capital and labor in open developing economies.

Keywords: Supply side asymmetries; Unbalanced economic growth; Structural change (search for similar items in EconPapers)
JEL-codes: F41 F43 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s12197-023-09630-1

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