{
  "title": "Growth, Trade, and Deindustrialization",
  "publication": "IMF Working Papers, April 1, 1998",
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  "summary": "This paper shows that deindustrialization is explained primarily by trends internal to the advanced economies. These include the combined effects on manufacturing employment of a relatively faster growth of productivity in manufacturing, the associated relative price changes, and shifts in the struc",
  "sections": [
    {
      "heading": "Main findings",
      "content": "- Deindustrialization in the advanced economies is explained primarily by trends internal to those economies.\n- Key internal factors include:\n  - Relatively faster growth of productivity in manufacturing.\n  - Associated relative price changes.\n  - Shifts in the structure of demand between manufactures and services.\n- North-South trade explains less than one fifth of deindustrialization in the advanced economies.\n- The contribution of North-South trade to deindustrialization has been mainly through its effects in stimulating labor productivity in Northern manufacturing.\n- North-South trade has had little enduring effect on total manufacturing output in the advanced economies."
    },
    {
      "heading": "Mechanisms and analysis",
      "content": "- Faster manufacturing productivity growth reduces manufacturing employment through labor-saving effects.\n- Relative price changes linked to productivity differentials alter demand allocation between manufactures and services.\n- Demand-structure shifts (between manufactures and services) amplify the employment and output effects of productivity changes.\n- North-South trade operates largely by inducing productivity changes in Northern manufacturing rather than by reducing Northern manufacturing output persistently."
    },
    {
      "heading": "Subject focus and keywords",
      "content": "- Subject areas: Economic sectors; Employment; Labor; Labor productivity; Manufacturing; National accounts; Personal income; Production; Productivity.\n- Keywords: Deindustrialization; demand-creating effect; dependent variable; East Asia; Employment; income coefficient; income elasticity; Labor productivity; labor-saving impact; Manufacturing; North-South trade; output equation; per capita income; Personal income; Productivity; productivity change; productivity growth; productivity trend; trade balance; WP."
    },
    {
      "heading": "Document identifiers and publication notes",
      "content": "- Pages: 28\n- Series: Working Paper No. 1998/060\n- Issue: 060\n- Volume: 1998\n- DOI: https://doi.org/10.5089/9781451848021.001\n- ISBN: 9781451848021\n- ISSN: 1018-5941\n\nRamana Ramaswamy, and Bob Rowthorn. \"Growth, Trade, and Deindustrialization\", IMF Working Papers 1998, 060 (1998). DOI: https://doi.org/10.5089/9781451848021.001.\n\n---\n\n Content in this bundle\n\n- Growth, trade, and Deindustrialization - WP/98/60\n  - Growth, trade, and Deindustrialization - WP/98/60 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Growth, trade, and Deindustrialization - WP/98/60 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/growth-trade-and-deindustrialization-2584"
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    "Authors: Ramana Ramaswamy, Bob Rowthorn",
    "Published: April 1, 1998",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451848021.001",
    "Deindustrialization in the advanced economies is explained primarily by trends internal to those economies.",
    "Key internal factors include:",
    "North-South trade explains less than one fifth of deindustrialization in the advanced economies.",
    "The contribution of North-South trade to deindustrialization has been mainly through its effects in stimulating labor productivity in Northern manufacturing.",
    "North-South trade has had little enduring effect on total manufacturing output in the advanced economies.",
    "Faster manufacturing productivity growth reduces manufacturing employment through labor-saving effects.",
    "Relative price changes linked to productivity differentials alter demand allocation between manufactures and services.",
    "Demand-structure shifts (between manufactures and services) amplify the employment and output effects of productivity changes.",
    "North-South trade operates largely by inducing productivity changes in Northern manufacturing rather than by reducing Northern manufacturing output persistently.",
    "Subject areas: Economic sectors; Employment; Labor; Labor productivity; Manufacturing; National accounts; Personal income; Production; Productivity.",
    "Keywords: Deindustrialization; demand-creating effect; dependent variable; East Asia; Employment; income coefficient; income elasticity; Labor productivity; labor-saving impact; Manufacturing; North-South trade; output equation; per capita income; Personal income; Productivity; productivity change; productivity growth; productivity trend; trade balance; WP.",
    "Pages: 28",
    "Series: Working Paper No. 1998/060",
    "Issue: 060",
    "Volume: 1998",
    "DOI: https://doi.org/10.5089/9781451848021.001",
    "ISBN: 9781451848021",
    "ISSN: 1018-5941",
    "**Growth, trade, and Deindustrialization - WP/98/60**"
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