Why is GDP so much more volatile in poor countries than in rich ones? To answer this question, we propose a theory of … technological diversification. Production makes use of different input varieties, which are subject to imperfectly correlated shocks …. In our model, the expansion in the number of varieties provides diversification benefits against variety-specific shocks …

This paper contributes to trade diversification literature by comparing changes in relative (i.e. assessed in … particular, by focusing on the diversification of imports, we add a missing piece to already analysed export trends. We use …), they follow a similar path of evolution in the development process. Progressing relative diversification (despecialisation …

naira in the first quarter of 2016. In view of this, this paper looks at the myriads of diversification options open to …