English, Article, Journal or magazine article edition: Long-Run Sectoral Development - Time Series Evidence for the German Economy Andreas Dietrich; Jens J. Krüger

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Bookmark: http://trove.nla.gov.au/version/1040
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Long-Run Sectoral Development - Time Series Evidence for the German Economy
Author
  • Andreas Dietrich
  • Jens J. Krüger
Physical Description
  • preprint
Notes
  • In economic development, long-run structural change among the three main sectors of an economy follows a typical pattern with the primary sector (agriculture, mining) first dominating, followed by the secondary sector (manufacturing) and finally by the tertiary sector (services) in terms of employment and value added. We reconsider the verbal theoretical work of Fourastié and build a simple model encompassing its main features, most notably the macroeconomic influences on the sectoral development. Estimation and analysis with German data for the period 1850-2001 show that this model is quite capable to replicate the empirical facts.
  • structural change, industrialization, tertiarization
  • RePEc:jrp:jrpwrp:2008-013
Language
  • English
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