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Growth, structural transformation and consumption behaviour : evidence from Asia (English)

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  • Growth, structural transformation and consumption behaviour : evidence from Asia (English)
  • Dowling, John Malcolm; Lahiri, Ashok Kumar
  • World Bank (WB)


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Title Growth, structural transformation and consumption behaviour : evidence from Asia (English)
Similar Titles
Material Type Reports
Author(English)

Dowling, John Malcolm; Lahiri, Ashok Kumar

Publisher

World Bank (WB)

Date 1986
Language English
File Type Link
Subject Social Development < Education

Abstract

In a finance-constrained world mobilization of savings is essential for fostering growth. For an understanding of the determinants of savings in the development process Asian countries merit special attention in so far as their savings rate has been far more buoyant than in the rest of the world. Growth along with structural transformation offer a plausible explanation of the behaviour of the average propensity to consume in Asia. Consumption propensities in the agricultural developing economies of Asia have been falling partly in response to the accelerating growth in these countries and partly in response to the structural shifts they have been experiencing due to industrialization. The sensitivity of the average propensity to consume to sectoral composition of income between agriculture and non-agriculture arises from the enormous differences in the physical and financial infrastructural facilities, demographic factors, basic nature of economic activity and market features in rural and urban areas. Over time these differences are expected to become less pronounced. However, until the decade of the Seventies there does not appear to be any evidence that they have become small enough to justify a neglect of the structural composition of the economy.