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When Pakistan became an independent country a serious obstacle to rapid industrialization was an almost complete lack of industrial accountants. The author tells how a small group of men set out to create—with valuable aid from Canada—a new profession.
In a period when external financial aid to developing countries is increasing less rapidly than before, one question emerges ever more sharply: how can developing countries mobilize all possible domestic resources for financing their industrialization?
This paper investigates the effect of timeliness in accessing the intermediate inputs on the
trade pattern. In particular, any country that has a higher ability to transport goods on time
has a comparative advantage in industries that place a higher value on the timely delivery of
their inputs, and this comparative advantage pattern is stronger for processed goods than for
primary goods. To do this, a measure for how intensively any industry demands for the
timely delivery of its intermediate inputs is constructed combining Hummels and Schaur
(2013)’s calculations of the time sensitivity of products with the input-output tables.
Mr. Nikola Spatafora, Rahul Anand, and Mr. Saurabh Mishra
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.