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Título: Structural Changes in the Economy in the Light of the Neoclassical Approach. A Case Study: Spain and Poland
Palabras clave: Economía y Finanzas
Economic Development
Economic Stucture
Editorial: Sociedad de Economía Mundial
Descripción: The Spanish and Polish economies are often compared due to their similar potential, as far as area, population and importance of the agricultural sector are concerned. However, the division created by an 18-year time distance between their EU accession fundamentally influences their experience of the market economy, as well as the extent and pace of structural changes. The problem, which was posed in this article, in the context of comparative analysis, was identifying the paths of economic development of Spain and Poland, facing the fact that the three-sector structure of both economies, measured by the share in gross value added of agriculture, industry and service sector have been generally and apparently similar in the last decade. It is easy to find similarities, as far as high levels of unemployment are concerned, in some periods. However, their ways of achieving economic development are fairly different and lead to different results of effective character. The Spanish economic transformation took place mainly as a result of deep, effectiveness changes in agriculture. The Polish economic transformation took place mainly in the industrial sector. In both countries there is a completely different picture of relations between labour and capital inputs, as well as tendencies in changes of labour and capital productivity. As a result, economic growth, if we look at it from the point of traditional growth factors, has a totally different picture in Spain and Poland. In order to define the factors differentiating the economic development we used a neoclassical approach, taking into account the supply side of the economy. The research covers the dynamics and size of such parametres as: real GDP, employment, gross fixed capital formation, total factor productivity - TFP, measured by the Solow residual, labour productivity and value of capital per one person employed. The researched period comprises the years between 1980-2005 in the case of Spain, and 1995-2005 in the case of Poland. Time series used in the analysis come from the databases of Eurostat and OECD.
Other Identifiers: http://www.redalyc.org/articulo.oa?id=86611886007
Aparece en las Colecciones:Revista de Economía Mundial

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