REVISITING KALDOR'S LAWS: THE SYMBIOSIS BETWEEN MANUFACTURING AND SERVICES IN ECONOMIC GROWTH

Wallace Marcelino, Fabrício Missio and Frederico Jayme Jr
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Wallace Marcelino: UFPA
Fabrício Missio: Cedeplar/UFMG
Frederico Jayme Jr: Cedeplar/UFMG

No 681, Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais

Abstract: This paper revisits Kaldor's Laws, considering that both manufacturing and services, as well as their interaction (symbiosis), contribute to economic growth. To investigate this question, we constructed a symbiosis indicator and tested it econometrically using panel data models for a sample of 41 countries between 2000 and 2014. The results show that the services sector and the symbiosis between manufacturing and modern services are subject to Kaldor's Laws. It is concluded that the modern services sector is important for economic growth during this period and that the new stage of structural change is characterized by increased returns to scale (expanded Kaldor-Verdoorn Law).

Keywords: Modern services; Increasing Returns; Kaldor's Laws; Symbiosis; Economic Growth (search for similar items in EconPapers)
JEL-codes: L80 O1 O4 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2025-06
New Economics Papers: this item is included in nep-pke
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