1945

Understanding structural change: Products, tasks and natural resources

This chapter examines how three aspects of industrial structure in developing countries influence their opportunities for growth. Firstly, it looks at two important elements of the industrial structure related to products: diversity and sophistication. Recent research suggests that more advanced economies have more diverse industrial sectors, and economies that export more sophisticated products—in terms of technology, organization, quality, design and logistics—grow faster. The chapter presents new evidence that diversity and product sophistication in manufacturing are closely linked to faster economic growth in both low- and middle-income countries.

Related Subject(s): Economic and Social Development
/content/books/9789211562934s011-c001
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