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Multi-Sector Growth Economies

Wei-Bin Zhang

Chapter 5 in Economic Growth with Income and Wealth Distribution, 2006, pp 209-247 from Palgrave Macmillan

Abstract: Abstract There are many kinds of commodities and services that we use and consume in our daily life: food, housing, clothing, cars, computers, air-conditioners, services from doctors or teachers or retailers, and entertainment by visiting museums or watching the performance of artists and sportsmen. Even in a simple food category, we may list thousands of kinds of food, depending on our likes. In modem times, this list has grown explosively. Evidently, it is impossible to analyze economic issues at national and regional levels without aggregation. In an aggregated sense, there are three types of commodities (and services): some are capital goods like TVs, clothing and machines; some are consumption goods such as vegetables, milk and meat; and the others are services. So far, we have mainly been concentrating on economies with a single commodity. This chapter broadens our analysis to multiple sector economies.

Keywords: Wage Rate; Consumption Good; Wealth Distribution; Good Sector; Balance Growth Path (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50633-6_5

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DOI: 10.1057/9780230506336_5

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