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Structural Transformation in Graduating Pacific Least Developed Countries (LDCs)

Author

Listed:
  • Daniel Gay

    (Adviser on the least developed and developing countries to the United Nations and the Organisation for Economic Co-operation and Development)

Abstract

The Pacific least developed countries (LDCs) are not industrialising. Most of the shift in economic output over the past 20 years has been toward services and away from agriculture. Almost all new jobs created have been in services. Economic progress, mostly via tourism, is vulnerable to global volatility such as the COVID-19 pandemic. Services are inherently less productive, as is agriculture. Trade liberalization has underdelivered and exports in three of the four regional LDCs have become less diversified since 2000. The traditional conception of structural transformation therefore appears inappropriate. This implies a need to think creatively about analysis and policies. New, context-sensitive ways of thinking about economic transformation must be conceptualized and enacted to promote the next phase of economic development.

Suggested Citation

  • Daniel Gay, 2021. "Structural Transformation in Graduating Pacific Least Developed Countries (LDCs)," MPDD Working Paper Series WP/21/02, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    • Handle: RePEc:unt:wpmpdd:wp/21/02
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    File URL: https://www.unescap.org/kp/2021/structural-transformation-graduating-pacific-least-developed-countries-ldcs
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    Cited by:

    1. -, 2023. "Caribbean Outlook 3: Economic recovery and repositioning in the era of COVID-19. Policy Brief," Sede Subregional de la CEPAL para el Caribe (Estudios e Investigaciones) 48657, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).

    More about this item

    Keywords

    Structural transformation; LDC graduation; Pacific countries; least developed countries;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O56 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Oceania
    • P41 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Planning, Coordination, and Reform
    • P45 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - International Linkages

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