Patterns of development, 1950-1970 /

Includes index.

Includes bibliographical references: p. 215-222.

This book develops the line of research initiated by Hollis Chenery in I960 with his celebrated American Economic Review article "Patterns of Industrial Growth", research which as the authors emphasise, represents an elaboration of the pioneering work of Colin Clark and particularly that of Simon Kuznets. Inter-country and inter-temporal comparisons of economic structure are expected to yield, if not laws of development, at least more-or-less regular or “normal" patterns regarding how economic structure changes as per capita income increases. The authors examine ten types of structural characteristics which provide the dependent variables of the statistical analysis: investment, government revenue, education, domestic demand, production, foreign trade, labour allocation, urbanisation, demographic transition, and income distribution.
These basic development processes, mostly expressed as percentages of GDP, go beyond those earlier analysed by Chenery; the structure of production, however, is less disaggregated than in some of his earlier work. Ordinary least squares regressions specify all the structural characteristics as a function of per capita GNP, population, net resource inflow, and a time trend; the first two independent variables appear in logarithmic form, and also squared, to account for non-linearity. Uniform accounting systems of the United Nations plus World Bank resources provide a wealth of cross-section and time-series observations: only socialist countries and countries with I960 populations of less than one million are left out of the data base

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