Economic Growth and Structural Change: The Case of India

Kazuo Mino

Chapter Chapter 2 in The Cultural Basis of Economic Growth in India, 2022, pp 29-63 from Springer

Abstract: Abstract Structural transformation of the Indian economy has two distinctive features: (i) the employment share of the agricultural sector has not declined much, although its income share has been rapidly decreasing with economic growth and; (ii) the service sector started expanding before the income share of the manufacturing sector has not increased enough. In this chapter, we mainly focus on the first feature by examining a two-sector development model with labor market frictions. Our model exhibits an unbalanced decline in the employment and income shares of the agricultural sector.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:crechp:978-981-15-9305-5_2

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DOI: 10.1007/978-981-15-9305-5_2

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