Transformation of Economies Along the Development Path

Abstract

The topic of interest from the social point of view is that the process that surrounds the transformation economy plays a vital role when it comes to rural to urban. The impact comes from the process that tends to generate large-scale changes by a shift from primarily agriculture towards industrial and service-oriented activities. This work is related to the issue of rural-urban dynamics during development since the process of structural transformation implies contracting and expanding sectors, which, in turn, implies that the workforce must be reallocated and possibly retrained. The capacity of institutions in these developing economies to cope with these demands is thus a fundamental factor that determines how smooth or disruptive this process will be. Interesting to note are the pattern of education attainment levels of the workforce, the occupation distribution of the workforce, the wage levels of workers, and their consumption levels. The consumption pattern is another indicator of structural transformation.