Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 149834366X
Category : Business & Economics
Languages : en
Pages : 107

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Book Description
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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498343686
Category : Business & Economics
Languages : en
Pages : 55

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Book Description
Diversification and structural transformation play important roles in influencing the macroeconomic performance of low-income countries (LICs). Increases in income per capita at early stages of development are typically accompanied by a transformation in a country’s production and export structure. This can include diversification into new products and trading partners as well as increases in the quality of existing products.

Author: Dongyeol Lee
Publisher: International Monetary Fund
ISBN: 1498315658
Category : Business & Economics
Languages : en
Pages : 24

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Book Description
Export structure is less diversified in low-income countries (LICs) and especially small states that face resource constraints and small economic size. This paper explores the potential linkages between export structure and economic growth and its volatility in LICs and small states, using a range of indices of export concentration differing in the coverage of industries. The empirical analysis finds that export diversification may promote economic growth and reduce economic volatility in these countries. Furthermore, the analysis demonstrates that the economic benefits of export diversification differ by country size and income level—there are bigger benefits for relatively larger and poorer countries within the group of LICs and small states.

Author: Romina Kazandjian
Publisher: International Monetary Fund
ISBN: 1498367739
Category : Social Science
Languages : en
Pages : 29

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Book Description
We show that gender inequality decreases the variety of goods countries produce and export, in particular in low-income and developing countries. We argue that this happens through at least two channels: first, gender gaps in opportunity, such as lower educational enrollment rates for girls than for boys, harm diversification by constraining the potential pool of human capital available in an economy. Second, gender gaps in the labor market impede the development of new ideas by decreasing the efficiency of the labor force. Our empirical estimates support these hypotheses, providing evidence that gender-friendly policies could help countries diversify their economies.

Author: Ararat L. Osipian
Publisher: Springer Nature
ISBN: 3031388747
Category : Political Science
Languages : en
Pages : 200

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Book Description
This book presents a theoretical and empirical investigation of sustainable economic growth in Russia. The ill-planned transition in the 1990s from planned economy to market economy resulted in a sharp decline in national production; however, Russian economic growth was evident in the 2000s and 2010s. Osipian here analyses whether Russia has potential to achieve sustainable economic growth, filling a gap between the continuous presence of volatile economic growth in Russia and the lack of scholarly literature in the field. This book considers Russia’s economic transition within the set of early, modern, classical, exogenous, and endogenous theories of economic growth. At the same time, this book considers the phenomenon of sustainable economic growth in the context of the post-Soviet transition. Such a contextualization allows for finding and highlighting certain features and processes within economic transition that were earlier neglected by the scholars, including primarily the possibility of not only recovering after economic and financial crises, but also initiating sustainable economic growth. It identifies the place and role of human capital in economic growth within the market-type post-transitional Russian economy and concludes that human capital accumulation is key for sustainable economic growth.

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1498371590
Category : Business & Economics
Languages : en
Pages : 34

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Book Description
This Selected Issues paper discusses initiatives to promote export diversification and growth in Liberia. Liberia’s exports have been very concentrated in the past, but some progress in export diversification has been made in recent years, mostly in the enclave sectors. The government has launched the Liberia Agricultural Transformation Agenda (LATA) to support diversification and transformation. LATA strives to build up the agricultural sector as well as adopt a supportive industrial policy. Improving business climate and external competitiveness could play an important role in increasing export diversification in Liberia. Efficiency could also be increased through better access to markets and technology, cheaper imported inputs, as well as more competition with imports.

Author: Mr.Tim Callen
Publisher: International Monetary Fund
ISBN: 1498303234
Category : Business & Economics
Languages : en
Pages : 32

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Book Description
Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase productivity and sustainable growth, and help create the non-oil economy that will be needed in the future when oil revenues start to dwindle. The GCC countries have followed many of the standard policies that are usually thought to promote more diversified economies, including reforms to improve the business climate, the development of domestic infrastructure, financial deepening, and improvements in education. Nevertheless, success to date has been limited. This paper argues that increased diversification will require realigning incentives for firms and workers in the economies—fixing these incentives is the “missing link” in the GCC countries’ diversification strategies. At present, producing non-tradables is less risky and more profitable for firms as they can benefit from the easy availability of low-wage foreign labor and the rapid growth in government spending, while the continued availability of high-paying and secure public sector jobs discourages nationals from pursuing entrepreneurship and private sector employment. Measures to begin to address these incentive issues could include limiting and reorienting government spending, strengthening private sector competition, providing guarantees and financial support for those firms engaged in export activity, and implementing labor market reforms to make nationals more competitive for private sector employment.

Author: Ms. Corinne C Delechat
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 52

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Book Description
This paper examines the significance and impact of broad-based and industrial policies on economic diversification in developing economies, supported by a literature review, case studies, and IMF analyses. Economic diversification entails shifting from traditional sectors, like agriculture and mining, to a variety of high-quality services and sectors. This transition is crucial for adapting to global market fluctuations and promoting sustainable growth and improved living standards. A literature review, including many IMF contributions, reveals a strong correlation between economic diversification and improved macroeconomic performance in developing countries, such as faster economic growth and higher incomes per capita. Factors influencing economic diversification include macroeconomic stability, infrastructure quality, workforce skills, credit access, regulatory environment, and income equality. Six case studies highlight the experiences of Costa Rica, Gabon, Georgia, India, Senegal, and Vietnam, demonstrating that successful diversification strategies require a long-term commitment and effective broad-based policies. Industrial policies can support diversification by addressing market failures, but they must be well-designed and effectively implemented. Common lessons include the necessity of maintaining macroeconomic stability, investing in human capital, and fostering competition. Sector-specific mechanisms like Special Economic Zones should be used cautiously, emphasizing underlying bottlenecks and minimizing fiscal costs. Country-specific insights include Costa Rica's strategic policy shift towards export orientation, Gabon's reduced dependence on oil, Georgia's market-friendly policies, India's skilled labor and software clusters, Senegal's infrastructure and business environment improvements, and Vietnam's transition from an agrarian to an industrial economy. The IMF's engagement in diversification emphasizes improving human capital, infrastructure, reducing trade barriers, and promoting international trade integration. Policymakers, researchers, and international organizations increasingly recognize the importance of economic diversification for resilient, sustainable, and inclusive growth, requiring nuanced policy interventions tailored to each country's context and capabilities.

Author: Célestin Monga
Publisher: Oxford University Press
ISBN: 0192512692
Category : Business & Economics
Languages : en
Pages : 744

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Book Description
The Oxford Handbook of Structural Transformation addresses the economics of structural transformation around the world. It deals with major themes, which include history and context, critical issues and concepts, methodological foundations, main theoretical approaches, policy issues, some illuminating country experiences of structural transformation, and important debates on the respective roles of the market and the state in that process. The historical record provides a challenge for economists to understand the success of the rising economic powers (some of them initially considered unlikely candidates for prosperity) and the stagnation or decline of others. Five major questions emerge: · Why has so much divergence occurred among nations of the world since the Industrial Revolution, and particularly during the 20th century? · Why has the pattern changed recently with the emergence of a few developing economies (e.g. the multi-polar world), and can it be sustained? · What are the key drivers, strategies, and policies, to foster structural transformation in various different country contexts and in a constantly evolving global economy? · How could low- and middle-income countries avoid development traps and learn from past experiences whilst exploiting the new opportunities offered by the Fourth Industrial Revolution? · What is the role of various development stakeholders and other important players in facilitating sustained economic convergence among nations? This book addresses these questions, bringing the rigor, usefulness, and multi-disciplinary scope of the Oxford Handbook series to a critical topic in economics. The Oxford Handbook of Structural Transformation is an essential reference work and a stimulus to new research and creativity across all branches of the social sciences.

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1513518879
Category : Business & Economics
Languages : en
Pages : 24

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Book Description
This Selected Issues paper assesses Swaziland’s export diversification and quality. Swaziland’s export structure has experienced sizable changes over the past 15 years. The share of textile exports has halved, and the expiration of trade benefits under Africa Growth Opportunity Act (AGOA) implies that the share of textile exports would decline further. Swaziland’s exports are relatively diversified with good quality index compared with its peers. However, diversification and product quality have declined in recent years, while the expiration of the access to AGOA calls for enhanced efforts in this area. Improving education and training, strengthening institutional framework, and further developing the financial market will help improve export diversification and quality upgrading.