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Sectoral Development Multipliers / Francisco J. Buera, Nicholas Trachter.
- Format:
- Book
- Author/Creator:
- Buera, Francisco J.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w32230.
- NBER working paper series no. w32230
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2024.
- Summary:
- How should industrial policies be directed to reduce distortions and foster economic development? We study this question in a multi-sector model with technology adoption, where the production of goods and modern technologies features rich network structures. We provide simple formulas for the sectoral policy multipliers, and provide insights regarding the power of alternative policy instruments. We devise a simple procedure to estimate the model parameters and the distribution of technologies across sectors, which we apply to Indian data. We find that technology adoption greatly amplifies the multipliers' magnitudes, and it changes the ranking of priority sectors for industrial policy. Further, we find that adoption subsidies are the most cost-effective instrument for promoting economic development.
- Notes:
- Print version record
- March 2024.
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