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Structural Transformation and the Sophistication of Production

Author/Editor: Nicola Spatafora | Rahul Anand | Saurabh Mishra
Authorized for Distribution: February 1, 2012
Electronic Access: Free Full Text (PDF file size is 8,758KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: A new dataset on export sophistication reveals that in many countries the importance of modern services, and the sophistication of manufactured and service exports, has increased over time. However, this trend was less pronounced in LICs. Sophisticated sectors are more likely to act as a catalyst for broad-based economic growth, rather than turning into isolated enclaves, when the economy is liberalized, the exchange rate is not overvalued, and there are good information flows. An educated workforce, external liberalization, and good information flows are important prerequisites for developing sophisticated goods and services. An appropriate macroeconomic policy is particularly important for goods, skilled labor and good information flows for services.
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Series: Working Paper No. 12/59
Subject(s): Economic growth | Low-income developing countries | Manufacturing sector | Productivity | Services sector
Author's keyword(s): Structural Transformation | Sophistication of Production | Service Exports.
    Published:   February 1, 2012        
    ISBN/ISSN:   9781463937775/1018-5941   Format:   Paper
    Stock No:   WPIEA2012059   Pages:   51
    Price:   US$18.00
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