Using Input-output Links to Measure the Potential for Service-Led Development in Formerly Transition Economies

Valerie Mercer-Blackman, Joseph Mariasingham and Krizia Garay

No 332983, Conference papers from Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project

Abstract: Many countries of the Former Soviet Union have not diversified their economies according to traditional indicators, leading policy analysts to suggest that the objective should be to increase the share of manufacturing employment in the economy to levels similar to East Asian countries. This paper uses input-output analysis to develop a better measure of diversification that accounts for global production links and suggests that the key to development for these primary product exporting economies is business and professional services, even if they are not directly exported. The paper also looks at measures of comparative advantage and diversification and explains why worries of premature deindustrialization are unwarranted if value-added contribution is properly measured.

Keywords: Agribusiness (search for similar items in EconPapers)
Date: 2018
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