paper explores ways to achieve diversification in a resource-rich economy. It describes the relative price changes that … diversification, through the development of "industries without smokestacks" and investments in knowledge. …

Because excessive specialization can be risky, diversification matters for sustainable development. A case study of … Madagascar, this paper begins by briefly discussing economic and institutional diversification and presenting a simple model of … production possibilities to illuminate the possible contribution of diversification to economic and social development in …