Structural Transformation in Graduating Pacific Least Developed Countries (LDCs)

Daniel Gay

No WP/21/02, MPDD Working Paper Series from United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)

Abstract: The Pacific least developed countries (LDCs) are not industrialising. Most of the shift in economic output over the past 20 years has been toward services and away from agriculture. Almost all new jobs created have been in services. Economic progress, mostly via tourism, is vulnerable to global volatility such as the COVID-19 pandemic. Services are inherently less productive, as is agriculture. Trade liberalization has underdelivered and exports in three of the four regional LDCs have become less diversified since 2000. The traditional conception of structural transformation therefore appears inappropriate. This implies a need to think creatively about analysis and policies. New, context-sensitive ways of thinking about economic transformation must be conceptualized and enacted to promote the next phase of economic development.

Keywords: Structural transformation; LDC graduation; Pacific countries; least developed countries (search for similar items in EconPapers)
JEL-codes: O11 O14 O56 P41 P45 (search for similar items in EconPapers)
Date: 2021-03
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Citations: View citations in EconPapers (1)

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