The Drivers of Structural Changes

Journal: Modern Economics & Management Forum DOI: 10.32629/memf.v1i2.149

Jianfang Liu

Peking University

Abstract

Structural change is an important feature in the process of economic growth. Most economies in the process of economic growth have appeared similar structural adjustment. The primary industry labor share declines; the tertiary industry labor share increases; the secondary industry labor share presents an inverted u-shaped change. This paper aims to analyze the driving mechanism of structural transformation from the perspectives of supply, demand, input and output, international trade and government public expenditure, and finally make a prospect for future structural transformation research from the perspectives of producer heterogeneity and consumer heterogeneity as well as the fourth wave of technological change — artificial intelligence.

Keywords

structural change, supply, demand, input-output, international trade, government policy

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