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Structural Transformation and the sophistication of Production

Author

Listed:
  • Rahul Anand
  • Mr. Saurabh Mishra
  • Mr. Nikola Spatafora

Abstract

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.

Suggested Citation

  • Rahul Anand & Mr. Saurabh Mishra & Mr. Nikola Spatafora, 2012. "Structural Transformation and the sophistication of Production," IMF Working Papers 2012/059, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:2012/059
    as

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    References listed on IDEAS

    as
    1. Ejaz Ghani & Homi Kharas, 2010. "The Service Revolution," World Bank Publications - Reports 10187, The World Bank Group.
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    3. Barro, Robert J. & Lee, Jong Wha, 2013. "A new data set of educational attainment in the world, 1950–2010," Journal of Development Economics, Elsevier, vol. 104(C), pages 184-198.
    4. Mishra, Saurabh & Lundstrom, Susanna & Anand, Rahul, 2011. "Service export sophistication and economic growth," Policy Research Working Paper Series 5606, The World Bank.
    5. Ghani, Ejaz & Kharas, Homi, 2010. "The Service Revolution," World Bank - Economic Premise, The World Bank, issue 14, pages 1-5, May.
    Full references (including those not matched with items on IDEAS)

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