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- Economic Report on Africa 2006
- Chapter
Capital Flows and Economic Transformation
- Author: United Nations
- Main Title: Economic Report on Africa 2006 , pp 127-155
- Publication Date: March 2007
- DOI: https://doi.org/10.18356/f5f914d3-en
- Language: English
Africa needs economic transformation in order to achieve sustainable growth and reduce its dependence on primary commodity production and exports. Economic transformation is a process that alters the relative contribution of economic sectors to GDP and employment over time. This process occurs through two main channels: first, reallocation of factors of production from less productive sectors to more productive ones; and second, diversification of the economy away from primary commodity sectors (agriculture, oil and minerals) into industry and services (Berthelemy and Soderling 2001).
© United Nations
ISBN (PDF):
9789210598842
Book DOI:
https://doi.org/10.18356/f1705055-en
Related Subject(s):
Economic and Social Development
;
International Trade and Finance
Sustainable Development Goals:
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