The uneven pace of deindustrialisation in the OECD
The uneven pace of deindustrialisation in the OECD
Throughout the OECD, the period since the 1970s saw a secular decline in manufacturing's share of GDP and a secular rise in the share of services. Despite this being a central feature of growth, the economic forces behind deindustrialisation and the reasons why its pace varied so markedly across OECD countries are not well understood. Adopting an econometric approach founded in neoclassical production theory, we provide an empirical analysis of the role of changes in relative prices, technology and factor endowments in driving changes in production structure. The speed of adjustment to changes in these determinants of production structure varies across OECD countries and is correlated with levels of employment protection.
ECONOMIC-GROWTH, TRADE, SPECIALIZATION, UNEMPLOYMENT, TECHNOLOGY, ENDOWMENTS, LOCATION, MODELS
1154-1184
Nickell, Stephen
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Redding, Stephen
c2d286ca-d427-4c14-9cb4-13a504d5e513
Swaffield, Joanna
9e0d6fe1-3219-4d1c-8cff-52c7fac1568f
1 September 2008
Nickell, Stephen
92e9c244-51f1-4513-81f7-4f4e8d2e36e8
Redding, Stephen
c2d286ca-d427-4c14-9cb4-13a504d5e513
Swaffield, Joanna
9e0d6fe1-3219-4d1c-8cff-52c7fac1568f
Nickell, Stephen, Redding, Stephen and Swaffield, Joanna
(2008)
The uneven pace of deindustrialisation in the OECD.
The World Economy, 31 (9), .
(doi:10.1111/j.1467-9701.2008.01125.x).
Abstract
Throughout the OECD, the period since the 1970s saw a secular decline in manufacturing's share of GDP and a secular rise in the share of services. Despite this being a central feature of growth, the economic forces behind deindustrialisation and the reasons why its pace varied so markedly across OECD countries are not well understood. Adopting an econometric approach founded in neoclassical production theory, we provide an empirical analysis of the role of changes in relative prices, technology and factor endowments in driving changes in production structure. The speed of adjustment to changes in these determinants of production structure varies across OECD countries and is correlated with levels of employment protection.
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Published date: 1 September 2008
Keywords:
ECONOMIC-GROWTH, TRADE, SPECIALIZATION, UNEMPLOYMENT, TECHNOLOGY, ENDOWMENTS, LOCATION, MODELS
Identifiers
Local EPrints ID: 453687
URI: http://eprints.soton.ac.uk/id/eprint/453687
ISSN: 0378-5920
PURE UUID: 9acccd47-de28-4116-bbc0-ec2c404a686d
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Date deposited: 20 Jan 2022 17:46
Last modified: 17 Mar 2024 04:09
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Author:
Stephen Nickell
Author:
Stephen Redding
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