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Industrial Development
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Economic development is fundamentally a process of structural transformation1.
This involves the reallocation of productive factors from traditional
agriculture to modern agriculture, industry and services, and the reallocation
of those factors among industrial and service sector activities. If successful in
accelerating economic growth, this process involves shifting resources from
low- to high-productivity sectors. More broadly, sustained economic growth
is associated with the capacity to diversify domestic production structure:
that is, to generate new activities, to strengthen economic linkages within the
country and to create domestic technological capabilities.
The industrial and modern service sectors typically contribute dynamically
to this diversification process. Indeed, the evidence of the past quarter
century – or, indeed, of the post-war era in the developing world – clearly
indicates that rapid growth in the developing world has been invariably associated
with diversification of production into manufacturing and modern
services, while slow growth has been usually associated with swelling lowproductivity
service
Dani Rodrik - Personal Name
1st Edition
NONE
Industrial Development
Management
English
UNITED NATIONS
2007
New York
1-432
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