Abstract:
New structural economics is a new framework for rethinking economic development following structuralism and neoliberalism after World War II. This framework uses a neoclassical approach to study the determinants of economic structure and its evolution in a country's economic development (Lin, 2011). We argue that a country's economic structure is endogenous to its factor endowments, and that the key for developmental success is to have a facilitating government to help entrepreneurs overcome soft and hard infrastructure bottlenecks so as to enable industries with comparative advantages to have competitive advantages in domestic and international markets. New structural economics is highly related to the field of government and economics. Both areas of research study the role of the government in the economy.
