Deindustrialization: Causes and Implications
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Summary:
All advanced economies have experienced a secular decline in the share of manufacturing employment—a phenomenon referred to as deindustrialization. This paper argues that, contrary to popular perceptions, deindustrialization is not a negative phenomenon, but is the natural consequence of the industrial dynamism in an already developed economy, and that North-South trade has had very little to do with deindustrialization. The paper also discusses the implications of deindustrialization for the growth prospects and the nature of labor market arrangements in the advanced economies.
Series:
Working Paper No. 1997/042
Subject:
Economic sectors Employment International trade Labor Manufacturing Production Productivity Services sector Trade balance
English
Publication Date:
April 1, 1997
ISBN/ISSN:
9781451975826/1018-5941
Stock No:
WPIEA0421997
Pages:
38
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