Transcription of CHAPTER 5 ECONOMIC DIVERSIFICATION: LESSONS FROM …
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CHAPTER 5 ECONOMIC DIVERSIFICATION: LESSONS FROM …
135 CHAPTER 5 ECONOMIC DIVERSIFICATION: LESSONS FROM PRACTICEC ontributed by the World Bank Group1 Abstract: ECONOMIC diversification remains a challenge for most developing countries and is arguably greatest for countries with the lowest incomes as well as for those whose economies are small, landlocked and/or dominated by primary commodity dependence. For such countries, ECONOMIC diversification is inextricably linked with the structural transformation of their economies and the achievement of higher levels of productivity resulting from the movement of ECONOMIC resources within and between ECONOMIC sectors.
Technological innovations in services such as mobile communications and associated value-added services (e-commerce, e-payments), access to cloud computing and data storage are rapidly changing the very economics of services delivery and the geography of trade and investment in the sector. In the future, Baldwin (2018) describes ‘virtual
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