Industrialization and substitutability: a note
نویسنده
چکیده
This paper analyzes the relationship between industrialization and technology in detail. Three main conclusions are obtained: (i) the crucial factor for the existence of a poverty trap is the degree of substitutability among intermediate inputs; (ii) the e1ects of technological progress in the manufactured good sector and the intermediate goods sector on industrialization di1er with the degree of substitutability among intermediate inputs; (iii) technological progress in the manufactured good sector and the intermediate goods sector weakens the lock-in e1ect of historical events while strengthening the role of expectations. These suggest that the degree of substitutability among intermediate inputs should be an important factor when we plan a development strategy. ? 2003 Elsevier B.V. All rights reserved. JEL classi#cation: O11; O14
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