Economic Diversification in LICs: Stylized Facts and Macroeconomic Implications
Staff Discussion Notes, December 14, 2012
Source details
- Canonical URL
- Economic Diversification in LICs: Stylized Facts and Macroeconomic Implications
Other formats
Bibliographic details
- Authors: Chris Papageorgiou, Nikola Spatafora
- Published: December 14, 2012
- Series: Staff Discussion Notes
Key findings and motivation
- Limited diversification is an underlying characteristic of many low-income countries (LICs).
- Concentration in sectors with limited scope for increases in productivity and quality may result in less broad-based and sustainable growth.
- Lack of diversification may increase exposure to adverse external shocks and macroeconomic instability.
Objectives of the Staff Discussion Note (SDN)
- Review and extend the evidence, from the existing literature and ongoing IMF work, that points to diversification as a crucial aspect of the development process.
- Focus on cross-country and cross-regional differences in the pace of diversification.
- Draw lessons from the experiences of countries that have successfully diversified their economies.
- Analyze the relationship between diversification, growth, and volatility.
Thematic areas covered
- Economic growth
- Economic sectors
- Exports and export diversification
- International trade
- Labor and Manufacturing
- National accounts and Personal income
- Structural transformation
- Trade and real-sector diversification
- Volatility
Keywords and regional focus
- Asia and Pacific; East Asia; Sub-Saharan Africa
- diversification; diversification effort; diversification pattern; diversification spurt
- export diversification; Exports; product diversification; quality upgrading
- growth; IMF staff calculation; industry diversification; LICs; Manufacturing; Personal income; SDN; Structural transformation; trade; trade diversification; volatility
Content in this bundle
- _sdn1213 - Executive Summary