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Understanding how and why economies structurally transform as they grow is crucial for making sound national policy decisions. Typically, analysts who study this issue focus on sectoral shares of gross domestic product and employment. This paper extends those studies to include exports,...
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This paper addresses several questions of concern to economies excluded from the world's two major trading blocs <196 …-reducing for economies not included? Many would answer `yes', and some cite the increasing regionalization of world trade to … support that view. We suggest that this conclusion is probably unwarranted. It is true that the share of world trade that is …
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