Browsing by Subject "Deindustrialization"

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Open Access
Patterns of growth in dual economies: challenges of development in the 21st century
(Academic Press, 2018) Acar, S.; Voyvoda, E.; Yeldan, Alp Erinç
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.
Open Access
The turning point of regional deindustrialization in the U.S.: Evidence from panel and time-series data
(Elsevier BV, 2022-03-05) Yazgan, Ş.; Marangoz, C.; Bulut, Emre
The phenomenon of deindustrialization may emerge in both developed and developing countries. Besides deindustrialization is observable in different regions of a country. This study analyzes inter-state deindustrialization trends in the United States (the U.S.) from 1977 to 2017 by dividing states into three income level groups (high, middle, and low). Instead of specifying the factors, we determine the turning points of inter-state deindustrialization and the difference in the rate of deindustrialization by applying both time-series and panel data methodology. The results suggest that the deindustrialization hypothesis is valid in 38 out of 50 states, DC, and the U.S. at the country level. Furthermore, our results show that deindustrialization curves in lower-income states reach a turning point at lower per capita income levels and at an earlier time-span compared to higher-income state groups. Our findings indicate that premature/early deindustrialization, which is commonly stated for developing countries in the literature is also valid for different regions in a developed country, the U.S. in our case.