Changes in the Industrial Structure and Economic Growth

Junko Doi
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Junko Doi: Institute of Economic Research, Kyoto University

No 567, KIER Working Papers from Kyoto University, Institute of Economic Research

Abstract: The purpose of this paper is to study the mechanism that allows a new industry to become the leading industry, using a variety expanding model based on Grossman-Helpman (1991). For this, we introduce two types of industries, mature and new industries, which are characterized by the differences in their income elasticities. We find that the new industry can become leading when the efficiency of R&D in the new industry is higher and consumers prefer goods in that industry. In addition, we examine what happens during the transition.

Pages: 25 pages
Date: 2003-04
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Persistent link: https://EconPapers.repec.org/RePEc:kyo:wpaper:567

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