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This is a Literature Review study (also classified as: Quantitative Study).

September 21, 2025Oxford Review of Economic Policy

Structural change and macro development: beyond the one-sector growth model

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Authors

DGDouglas GollinTufts University RRRichard RogersonNational Bureau of Economic Research

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Implication

New literature reviews the impact of structural change on per capita GDP over time, suggesting that macro models need to evolve beyond the one-sector growth model.

Key Points

Incorporating structural change reveals new insights into the growth process across countries, providing richer economic models.
Recent research indicates that the one-sector growth model may overlook key mechanisms affecting growth and GDP differences.
Understanding growth requires integrating heterogeneity into macro models to address the complexities of structural change.
This overview enriches the policy toolkit available for addressing growth challenges through a deeper understanding of macroeconomic dynamics.

Cite This Study

Gollin et al. (2025) studied this question.

synapsesocial.com/papers/68d46cbf31b076d99fa6892c https://doi.org/10.1093/oxrep/graf024

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Implication

New literature reviews the impact of structural change on per capita GDP over time, suggesting that macro models need to evolve beyond the one-sector growth model.

Structural change and macro development: beyond the one-sector growth model

Discussion

Member takes

Implication

Key Points

Cite This Study

Structural change and macro development: beyond the one-sector growth model

Discussion

Member takes

Implication

Key Points

Cite This Study

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