Cover IMF Working Papers
Structural Transformation and the sophistication of Production
Author: Mr. Nikola Spatafora, Rahul Anand, and Mr. Saurabh Mishra
Series:
IMF Working Papers
Volume/Issue:
Volume 2012: Issue 059
Language:
English
Publication Date:
01 Feb 2012
DOI:
https://doi.org/10.5089/9781463937775.001
ISBN:
9781463937775
ISSN:
1018-5941
Pages:
51
Keywords:
WP; export sophistication; service export; export basket; resource export; goods export; Structural Transformation; Sophistication of Production; Service Exports; exports of goods; Exports; Manufacturing; Export performance; Human capital; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund