Author: Dongyeol Lee
Publisher: International Monetary Fund
ISBN: 1498315658
Category : Business & Economics
Languages : en
Pages : 24
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Book Description
Export structure is less diversified in low-income countries (LICs) and especially small states that face resource constraints and small economic size. This paper explores the potential linkages between export structure and economic growth and its volatility in LICs and small states, using a range of indices of export concentration differing in the coverage of industries. The empirical analysis finds that export diversification may promote economic growth and reduce economic volatility in these countries. Furthermore, the analysis demonstrates that the economic benefits of export diversification differ by country size and income level—there are bigger benefits for relatively larger and poorer countries within the group of LICs and small states.
Author: Arnold McIntyre
Publisher: International Monetary Fund
ISBN: 1484351010
Category : Business & Economics
Languages : en
Pages : 23
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Book Description
The paper considers concepts of economic diversification with respect to exports (including service sectors) for small states. We assessed the economic performance of different groups of 34 small states over the period of 1990-2015 and found those more diversified experienced lower output volatility and higher average growth than most other small states. Our findings are consistent with conventional economic theories but we found that export diversification has a more significant impact on reducing output volatility than improving long run growth in small states. Diversification requires fundamental changes and should be contemplated in the context of a cohesive development strategy.
Author: Richard Newfarmer
Publisher: World Bank Publications
ISBN: 0821376381
Category : Political Science
Languages : en
Pages : 294
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Book Description
International trade in 2009 is projected to contract for the first time since 1982. As a result, export diversifi cation has gained new urgency as one way of using exports to recover lost growth momentum. Moreover, diversifi cation is central to reducing income volatility and sustaining high growth rates, which are especially important for countries with large populations living in poverty. In the 1950s, countries became concerned that their dependence on primary products would lead to steady falls in the purchasing power of primary exports and thus slow growth. A major policy objective of developing countries since that time has been to diversify out of primary products into manufactures. Although some nations have been at least partially successful, many low-income countries remain dependent on a narrow range of primary products. 'Breaking Into New Markets' argues for a comprehensive view of diversifi cation. It explores new thinking and evidence about export diversifi cation and elaborates on policies for its promotion. These policies span tariffs and taxes, services, and government activities to help fi rms take advantage of global opportunities. The book is a compilation of chapters written as short, policy-focused pieces. Many digest longer, more academic papers in an effort to make the information accessible to a larger policy and nontechnical audience. In that sense, the book is a policy primer on what export diversifi cation can and cannot do for growth and how to make diversifi cation happen. Intelligently designed policies that effi ciently address the obstacles to export growth are critical for overall economic growth and poverty reduction. This book offers insights useful to policy makers and practitioners as they embark on efforts to design new programs of competitiveness in their trade strategies.
Author: United Nations. Economic and Social Commission for Asia and the Pacific
Publisher: UN
ISBN:
Category : Political Science
Languages : en
Pages : 92
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Book Description
Author: Heiko Hesse
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 27
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Book Description
Author: Banji Oyelaran-Oyeyinka
Publisher: Routledge
ISBN: 1000573435
Category : Business & Economics
Languages : en
Pages : 152
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Book Description
Economic diversification entails a shift away from a single income source toward multiple income sources from an increasing spectrum of sectors and markets. A persistent concern for some Asian and African economies is their reliance on commodity exports and how they are exposed to the risk of export volatility and income instability. The Covid-19 pandemic and previous oil crashes have demonstrated the adverse impact on such economies. This book provides a systemic analysis of sustainable economic development through economic diversification. The book analyzes diversification and development experiences from comparative perspectives of Asia and Africa. It also investigates determinants of export diversification differentiated by commodities-dependence versus manufactured products and looks at the roles of various institutions and governance of institutions in export diversification. This book will provide policy insights into how different degrees of specialisation in exports across countries have affected outcomes in terms of living standards, economic growth and employment.
Author: Jos R. L pez-C lix
Publisher: World Bank Publications
ISBN: 0821380753
Category : Political Science
Languages : en
Pages : 368
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Book Description
Over the past decade, four major developments in global economic integration have shaped trade policy and the economic performance of countries within the Middle East and North Africa region: the emergence of global supply chains, the growth of trade in services, the rise of China and India as major international trading powers, and regional integration. These developments, along with the labor and natural resource endowments of particular countries (some are resource-poor but labor-abundant, some resource-rich and labor-abundant, and some resource-rich and labor-importing), have influenced export diversification outcomes across the region. Yet these countries may not be taking full advantage of all of the opportunities the four new trends offer to them. 'Trade Competitiveness of the Middle East and North Africa: Policies for Export Diversification' examines the region's trade policy agendas and their results by focusing on the countries' response to these four key developments in international trade. As the region recovers from the global financial and economic crises, the book identifies reforms that could allow countries to further strengthen global production networks, benefit more from trade in services, better compete in external markets to face the rise of China and India, and reach the full potential of regional integration. If thoroughly implemented, especially by oil exporters, all of these reforms could help boost growth and job creation in the region.
Author: José López-Cálix
Publisher: World Bank Publications
ISBN: 1464814902
Category : Business & Economics
Languages : en
Pages : 165
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Book Description
Despite multiple past efforts, fragile Sub-Saharan African economies such as those of Mali, Chad, Niger, and Guinea still rank among the least diversified worldwide, with natural resources constituting a high share of their gross domestic product or exports. Large-scale production of gold for Mali, oil for Chad, uranium for Niger, and bauxite for Guinea offers substantial opportunities, but also has major shortcomings. Conclusive evidence shows poor economic performance by resource-rich but fragile Sub-Saharan African countries. The primary reason is not only their high vulnerability to external shocks, but the greed or grievances that typically lead to rents appropriation by a small group of elites in countries that are prone to conflict. Leveraging Export Diversifi cation in Fragile Countries explores the following questions: What are Mali’s, Chad’s, Niger’s, and Guinea’s main constraints to export diversification as perceived by key exporting firms? How it could be beneficial for these countries to target certain emerging export products? Are their current interventions to promote global value chain (GVC) adequate? What lessons can be extracted from specific cases? How can trade and logistic policies favor (or hamper) export diversification†“led growth? The book lays the groundwork for effective step-by-step multidimensional policies to propel export diversification in fragile economies that are hindered not only by poor governance and weak institutions, but also by their landlocked position (except Guinea), small domestic markets, and business-unfriendly environments. Recognizing that traditional project interventions in these countries have had limited success, mainly due to their unidimensional focus on single components of an agricultural value chain, the book proposes a GVC 2.0 cluster-based approach to export diversification, in which complementary efforts attract foreign firms and public investment in support of agribusiness. Promising pilot examples of joint implementation plans among multiple donors, risk-sharing facilities, and agribusiness clusters provide valuable insights into recent global value chain developer interventions.
Author: World Bank
Publisher: World Bank Publications
ISBN: 1464814414
Category : Business & Economics
Languages : en
Pages : 241
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Book Description
Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Author: Alberto Amurgo-Pacheco
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 34
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Book Description
This paper uses highly disaggregated trade data to investigate geographic and product diversification patterns across a group of developing nations for the period from 1990 to 2005. The econometric investigation shows that the gravity equation fits the observed differences in diversification across nations. The analysis shows that exports at the intensive margin account for the most important share of overall trade growth. At the extensive margin, geographic diversification is more important than product diversification, especially for developing countries. Taking part in free trade agreements, thereby reducing trade costs, and trading with countries in the North are also found to have positive impacts on export diversification for developing countries.
