This paper asks, first, whether today's developing economies can achieve high-income status without first building large manufacturing sectors. We find that practically every economy that enjoys a high income today experienced a manufacturing employment share in excess of 18%-20% sometime since...

We provide the first evidence that low- and middle-income countries with high education levels were more successful in developing comparative advantage in products unrelated to those they already export. In contrast, controlling for the relatedness of target products to these countries' exports,...

We study changes in 130 countries' indices of revealed comparative advantage for 1,240 products between 1995 and 2010, to answer: (i) whether export diversification is path-dependent, and whether it is more difficult to diversify into more sophisticated products; and (ii) whether education helps...

We study changes in 130 countries' indices of revealed comparative advantage for 1,240 products between 1995 and 2010, to answer: (i) whether export diversification is path-dependent, and whether it is more difficult to diversify into more sophisticated products; and (ii) whether education helps...

We study changes in 130 countries' indices of revealed comparative advantage for 1,240 products between 1995 and 2010, to answer: (i) whether export diversification is path-dependent, and whether it is more difficult to diversify into more sophisticated products; and (ii) whether education helps...

We use changes in indices of revealed comparative advantage in 1240 products to study whether export diversification is path-dependent (i.e., history matters); whether it is more difficult to diversify into more sophisticated products; and whether education helps reduce path dependence, or helps...

We provide the first evidence that low- and middle-income countries with high education levels were more successful in developing comparative advantage in products unrelated to those they already export. In contrast, controlling for the relatedness of target products to these countries’...

We provide the first evidence that low- and middle-income countries with high education levels were more successful in developing comparative advantage in products unrelated to those they already export. In contrast, controlling for the relatedness of target products to these countries' exports,...

We study changes in 130 countries’ indices of revealed comparative advantage for 1,240 products between 1995 and 2010, to answer: (i) whether export diversification is path-dependent, and whether it is more difficult to diversify into more sophisticated products; and (ii) whether education...

The literature on the finance-growth nexus highlights the importance of the financial cycle for the estimation of potential output of an economy. We estimate potential output growth for the G-5 countries, as well as for 10 high- and middle-income Asian economies, using a multivariate model that...