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      • Department of Economics
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      Patterns of growth in dual economies: challenges of development in the 21st century

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      Author(s)
      Acar, S.
      Voyvoda, E.
      Yeldan, Alp Erinç
      Date
      2018
      Publisher
      Academic Press
      Pages
      13 - 63
      Language
      English
      Type
      Book Chapter
      Item Usage Stats
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      Book Title
      Macroeconomics of climate change in a dualistic economy: a regional general equilibrium analysis
      Abstract
      This chapter attempts to examine patterns of growth in dual economies within the context of challenges of development for the 21st century. To this end, we first study the broad contours of growth and adjustments in the global economy, before, during, and after the 2008–09 global crisis. Here four general patterns emerge, namely, stagnation of wage incomes; declining investment effort; consequent decline in the rates of growth of productivity; and a compensatory rise in corporate and household indebtedness. The chapter continues with a deeper investigation of the structural sources of deindustrialization and widening duality in both labor markets and technological diffusion. Finally, we link all these ideas with the macroeconomics of global climate change and implications on the feedback effects of the economy-resource use-environmental degradation nexus.
      Keywords
      Climate change
      Structural change
      Deindustrialization
      Sustainability
      Income–environment relationship
      Duality
      Economic growth
      Environmental degradation
      Productivity
      Resource use
      Permalink
      http://hdl.handle.net/11693/53597
      Published Version (Please cite this version)
      https://doi.org/10.1016/B978-0-12-813519-8.00002-9
      https://doi.org/10.1016/C2016-0-04839-8
      Collections
      • Department of Economics 697
      • Department of International Relations 558
      • Energy Policy Research Center (EPAM) 25
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