Patterns of economic diversification

In this section, three empirical patterns associated with diversification are presented: (a) the direct association between diversification and output, both in per capita and total terms; (b) the inverse association between diversification of an economy and the competition faced in exporting its product mix; and (c) path dependency in the process of diversification illustrated by the higher likelihood of particular pairs of products being exported jointly.

Related Subject(s): Economic and Social Development