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Structural change can be initiated by policy decisions or permanent changes in resources, population or the society. The downfall of communism , for example, is a political change that has had far-reaching economic implications.
A structural fix refers to solving a problem or resolving a conflict by bringing about structural changes that change the underlying structures that provoked or sustain these problems. According to Heberlein such changes modify human behavior by regulating the social settings or the 'structures' in which the behavior occurs − their context.
There are many examples of structural adjustments failing. In Africa, instead of making economies grow fast, structural adjustment actually had a contractive impact in most countries. Economic growth in African countries in the 1980s and 1990s fell below the rates of previous decades. Agriculture suffered as state support was radically withdrawn.
In this video, Motley Fool Energy Analyst Joel South tells us about several structural changes at Hess (NYS: HES) , including a predicted spinoff of its refining and downstream sections. This had ...
structural adjustment as only one component of structural change. More recent contributions to structuralist economics have highlighted the importance of institutions and distribution across both productive sectors and social groups. These institutions and sectors may be incorporated macroeconomic or multisectoral models.
For example, the Santa Monica Pier has undergone two structural assessments since the turn of the century and a handful of smaller repairs. The latest assessment in 2019 cost hundreds of thousands ...
Economic transformation can be measured through production/value-added measures and trade-based measures. Production-based measures include: (1) sector value added and employment data, to show productivity gaps between sectors; and (2) firm-level productivity measures, to examine average productivity levels of firms within one sector.
Structural unemployment is a form of involuntary unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded of workers by employers (also known as the skills gap). Structural unemployment is often brought about by technological changes that make the job skills of many workers obsolete.