The Unsung Drivers of Structural Transformation in Developing Economies
综述了收入、相对价格和国际贸易等传统因素，并重点探讨了收入不平等、金融市场不完善和政府政策这三个较少被讨论的因素，以解释发展中国家结构转型的差异。
ABSTRACT This paper undertakes a comprehensive review of some of the less‐discussed factors that harbor the potential to explain the wide variations in structural transformation, especially amongst developing economies. We begin by critically reviewing the effects of income, relative price, and international trade, which are generally considered drivers of structural change, with special emphasis on developing economies. Subsequently, we bring to the forefront three comparatively less‐discussed factors—income inequality, financial market imperfections, and government policy that can explain a large part of the divergences in the transformation patterns of developing economies. Underscoring the limitation of the conventional discourse that relates cross‐country differences in structure in terms of cross‐country differences in manufacturing, we emphasize the need for the theoretical discourse to move beyond the industry‐centric approach to focus on the recent research that views the surge of services as an additional engine of growth and the possible avenues through which it can affect structural transformation.