Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/46087 
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dc.contributor.authorYang, Dennis Taoen
dc.contributor.authorZhu, Xiaodongen
dc.date.accessioned2011-06-21-
dc.date.accessioned2011-06-28T13:55:03Z-
dc.date.available2011-06-28T13:55:03Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/46087-
dc.description.abstractThis paper develops a two-sector model that illuminates the role played by agricultural modernization in the transition from stagnation to growth. When agriculture relies on traditional technology, industrial development reduces the relative price of industrial products, but has a limited effect on per capita income because most labor has to remain in farming. Growth is not sustainable until this relative price drops below a certain threshold, thus inducing farmers to adopt modern technology that employs industry-supplied inputs. Once agricultural modernization begins, per capita income emerges from stasis and accelerates toward modern growth. Our calibrated model is largely consistent with the set of historical data we have compiled on the English economy, accounting well for the growth experience of England encompassing the Industrial Revolution.en
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x5239en
dc.subject.jelO41en
dc.subject.jelO33en
dc.subject.jelN13en
dc.subject.ddc330en
dc.subject.keywordlong-term growthen
dc.subject.keywordtransition mechanismsen
dc.subject.keywordrelative priceen
dc.subject.keywordagricultural modernizationen
dc.subject.keywordstructural transformationen
dc.subject.keywordIndustrial Revolutionen
dc.subject.keywordEnglanden
dc.titleModernization of agriculture and long-term growth-
dc.typeWorking Paperen
dc.identifier.ppn662497481en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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