Structural Transformation and the sophistication of Production

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 fo...

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Bibliographic Details
Main Author: Spatafora, Nikola
Other Authors: Anand, Rahul, Mishra, Saurabh
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2012
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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300 |a 51 pages 
651 4 |a China, People's Republic of 
653 |a Manufacturing industries 
653 |a Service exports 
653 |a Labour 
653 |a Cross-Country Output Convergence 
653 |a Human capital 
653 |a Aggregate Productivity 
653 |a Manufacturing 
653 |a Skills 
653 |a Trade: General 
653 |a Exports and Imports 
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653 |a Economic sectors 
653 |a Industry Studies: Manufacturing: General 
653 |a Export performance 
653 |a Labor 
653 |a Economic Growth of Open Economies 
653 |a Industries: Manufacturing 
653 |a Manufacturing and Service Industries 
653 |a Labor Productivity 
653 |a International trade 
653 |a Exports 
653 |a Measurement of Economic Growth 
653 |a Occupational Choice 
653 |a Industrialization 
653 |a Choice of Technology 
653 |a Human Capital 
653 |a Income economics 
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700 1 |a Mishra, Saurabh 
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520 |a 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