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Lhakpa Sherpa
 
''Price of investment goods and structural change: analysis of the Korean economy''
( 2023, Vol. 43 No.2 )
 
 
Using the Korean economy to calibrate a two-sector growth model, I study the quantitative effects of price of investment goods on the process of structural change. The model is able to match several features of the economy and has implications for sectoral value-added and employment shares. In particular, I find that the decline in the price of investment goods decreases the value-added and employment shares in the agricultural sector.
 
 
Keywords: Structural change, economic growth, economic reforms
JEL: O4 - Economic Growth and Aggregate Productivity: General
O1 - Economic Development: General
 
Manuscript Received : Jan 06 2022 Manuscript Accepted : Jun 30 2023

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