Sustaining Long-Run Growth and Macroeconomic Stability in Low-Income Countries—The Role of Structural Transformation and Diversification
March 7, 2014
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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.
Subject: Agricultural sector, Economic growth, Export diversification, Exports, Fiscal reforms, Low-income developing countries, Manufacturing sector
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