Work detail

Structural Change in the Course of Economic Development

Author: Bc. Václav Těhle
Year: 2012 - summer
Work type: Bachelors
Language: English
Pages: 78
Awards and prizes:
Abstract: This thesis strives to identify patterns of structural change while using panel
data from 38 countries and 9 economic sectors for the period from 1950 to
2005. Based on mutual correlations between individual countries, two di erent
methods for identifying structural change patterns are designed. The rst one
assumes constant rate of structural change over time and uses the entire time
spans provided in the dataset. Second selects for each economy only certain
country-periods with signi cant structural transformation and looks for similarities
in sequencing of these country-periods between individual countries.
The classical agriculture-manufacturing pattern is dominant, but signi cant
successful patterns mainly with growing nancial and transportation sectors
and falling personal and government services are also discovered. In order to
provide more complex perspective, proximity maps are drawn with position of
each country representing its development path relative to other economies.
Lastly, relationship between structural change and economic growth is proven
and further examined by listing several stylized facts about the structural transformation,
which are evaluated using the provided data.
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