Stages of Diversification
This paper studies the evolution of sectoral concentration in relation to the level of per capita income. We show that various measures of sectoral concentration follow a U-shaped pattern across a wide variety of data sources: countries first diversify, in the sense that economic activity is spread more equally across sectors, but there exists, relatively late in the development process, a point at which they start specializing again. We discuss this finding in light of existing theories of trade and growth, which generally predict a monotonic relationship between income and diversification.
Year of publication: |
2003
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Authors: | Imbs, Jean ; Wacziarg, Romain |
Published in: |
American Economic Review. - American Economic Association - AEA. - Vol. 93.2003, 1, p. 63-86
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Publisher: |
American Economic Association - AEA |
Saved in:
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