Structural Change and the Growth of Industrial Sectors: Empirical Test of a GPT model
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Castellacci, Fulvio
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Abstract
This paper investigates the empirical elevance of a model of structural change and the growth of industrial sectors. The model analyses the process of diffusion of
general-purpose technologies (GPTs) and how this affects the dynamic performance
of manufacturing and service industries. The empirical analysis studies the dynamics and the determinants of labor productivity growth of a large number of sectors in 18 OECD countries over the period 1970-2005. The results of dynamic panel data and
cross-sectional analysis provide support for the empirical validity of the model.
Industries that are close to the core of the emerging GPT based on information and
communication technologies (ICTs) are characterized by greater innovative
capabilities and have recently experienced a more dynamic performance. Relatedly,
countries that have been able to shift their industrial structure towards these highopportunity
manufacturing and service industries have grown more rapidly.
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Date
2008-09
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