{
  "title": "Economic Diversification in LICs: Stylized Facts and Macroeconomic Implications",
  "publication": "Staff Discussion Notes, December 14, 2012",
  "sourceUrl": "https://www.imf.org/en/publications/staff-discussion-notes/issues/2016/12/31/economic-diversification-in-lics-stylized-facts-and-macroeconomic-implications-40166",
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  "summary": "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.",
  "sections": [
    {
      "heading": "Key findings and motivation",
      "content": "- Limited diversification is an underlying characteristic of many low-income countries (LICs).\n- Concentration in sectors with limited scope for increases in productivity and quality may result in less broad-based and sustainable growth.\n- Lack of diversification may increase exposure to adverse external shocks and macroeconomic instability."
    },
    {
      "heading": "Objectives of the Staff Discussion Note (SDN)",
      "content": "- 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.\n- Focus on cross-country and cross-regional differences in the pace of diversification.\n- Draw lessons from the experiences of countries that have successfully diversified their economies.\n- Analyze the relationship between diversification, growth, and volatility."
    },
    {
      "heading": "Thematic areas covered",
      "content": "- Economic growth\n- Economic sectors\n- Exports and export diversification\n- International trade\n- Labor and Manufacturing\n- National accounts and Personal income\n- Structural transformation\n- Trade and real-sector diversification\n- Volatility"
    },
    {
      "heading": "Keywords and regional focus",
      "content": "- Asia and Pacific; East Asia; Sub-Saharan Africa\n- diversification; diversification effort; diversification pattern; diversification spurt\n- export diversification; Exports; product diversification; quality upgrading\n- growth; IMF staff calculation; industry diversification; LICs; Manufacturing; Personal income; SDN; Structural transformation; trade; trade diversification; volatility\n\n---\n\n Content in this bundle\n\n- sdn1213 - Executive Summary\n  - sdn1213 - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - sdn1213 - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/staff-discussion-notes/issues/2016/12/31/economic-diversification-in-lics-stylized-facts-and-macroeconomic-implications-40166"
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    "Authors: Chris Papageorgiou, Nikola Spatafora",
    "Published: December 14, 2012",
    "Series: Staff Discussion Notes",
    "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.",
    "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.",
    "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",
    "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",
    "**_sdn1213 - Executive Summary**"
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