Structural Change in Developed Economies in the Digital Age

Askar Sarygulov (), Alexander Petryakov (), Bulat Khusainov and Zoltan Zeman ()
Additional contact information
Askar Sarygulov: Saint Petersburg State University of Economics
Alexander Petryakov: Saint Petersburg State University of Economics
Zoltan Zeman: Szent Istvan University

A chapter in Digital Transformation and the World Economy, 2022, pp 145-160 from Springer

Abstract: Abstract The economic development of OECD countries in the past 50 years has been marked by a decline in the share of manufacturing and an increase in the share of the service sector in their national economies. This structural imbalance was one of the causes of the 2008–2009 crisis. Empirical data analysis for the leading OECD countries shows that the decline in the share of people employed in manufacturing has practically stabilized by 2020, while production volumes continue to grow. Information and communication technologies, which have already become general purpose technology, play an important role in this development trend. Based on the new role of ICT the work proposes a five-sector model of the economy (instead of a three-sector model), as it best reflects the technological trends of modern development. In particular, it is proposed to single out a separate sector related to human resources, which includes education, health care, social services and science. Another sector should be manufacturing, construction, transport, and mining, the development of which will largely depend on the use of ICT.

Keywords: Structure of the economy; ICT; Employment; Five-sector model (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:seschp:978-3-030-89832-8_8

Ordering information: This item can be ordered from
http://www.springer.com/9783030898328

DOI: 10.1007/978-3-030-89832-8_8

Access Statistics for this chapter

More chapters in Studies on Entrepreneurship, Structural Change and Industrial Dynamics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().