Structural Change in Meghalaya - Theory and Evidence

NORTH EAST INDIA-APPROACHES TOWARDS SUSTAINABLE DEVELOPMENT, pp.25-40, Raul and Saikia, eds., Southern Economist Golden Jubilee Publication, Bangalore, Karnataka, India

24 Pages Posted: 16 Jun 2009 Last revised: 16 Jun 2011

See all articles by Purusottam Nayak

Purusottam Nayak

North-Eastern Hill University

Sudhanshu K. Mishra

North-Eastern Hill University (NEHU)

Date Written: June 15, 2009

Abstract

Structural change which is inherent in an evolving economy refers to a long-term widespread transformation of the fundamental relationships among different parts and organic constituents of it, rather than micro scale or short-term change in output and employment. Short-term economic challenges that are managed with fiscal or monetary policies do not form part of the structural change. Structural change rather involves obsolescence of skills, vocations, and permanent changes in spending and production. In structural change, a subsistence economy is transformed into a manufacturing economy, or a regulated mixed economy is liberalized. Structural change is also initiated by policy decisions or through permanent changes in resources, population or the society. A current structural change in the world economy is globalization. The present paper in this regard is an attempt to have a close examination of the evolution of the concept by reviewing some of the important literatures and verify in the context of the state of Meghalaya whether there has been any such structural change. Although the study is severely constrained by availability of relevant data, it has been visualized that changes in population growth rate and its demographic attributes, economic participation and dependency ratios, sectoral distribution of income, infrastructural advancement, etc indicate to the structural change that is taking place in Meghalaya.

Keywords: structure, structural change, Meghalaya

Suggested Citation

Nayak, Purusottam and Mishra, Sudhanshu K., Structural Change in Meghalaya - Theory and Evidence (June 15, 2009). NORTH EAST INDIA-APPROACHES TOWARDS SUSTAINABLE DEVELOPMENT, pp.25-40, Raul and Saikia, eds., Southern Economist Golden Jubilee Publication, Bangalore, Karnataka, India. Available at SSRN: https://ssrn.com/abstract=1419730

Purusottam Nayak (Contact Author)

North-Eastern Hill University ( email )

Department of Economics
Shillong, Meghalaya 793022
India
91-364-2723183 (Phone)

HOME PAGE: http://pnayak.webs.com/

Sudhanshu K. Mishra

North-Eastern Hill University (NEHU) ( email )

NEHU Campus
Shillong, 793022
India
03642550102 (Phone)

HOME PAGE: http://www.nehu-economics.info

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