Economic diversification: A model of structural economic dynamics and endogenous technological change
Structural Change and Economic Dynamics, 2019, vol. 49, issue C, 13-28
Economic diversification is relevant for poorer developing countries to create jobs and foster economic development. The empirical economic literature has identified several stylized facts about the pattern of diversification of economies, but the development of explanations for those patterns, in general, has been only loosely associated with an economic theory on growth, trade, technology change and structural transformation. Making that connection is relevant because it could inform policymakers in developing countries in designing and implementing policies for promoting diversification. This paper presents a model of structural economic dynamics and endogenous technological change that can replicate empirical regularities related to economic diversification.
Keywords: Diversification; Economic complexity; Structural transformation; Productive capacities; Economic development (search for similar items in EconPapers)
JEL-codes: C61 C63 E12 E14 O11 O30 O41 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:streco:v:49:y:2019:i:c:p:13-28
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