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Economic transformation can be measured through production/value-added measures and trade-based measures. Production-based measures include: (1) sector value added and employment data, to show productivity gaps between sectors; and (2) firm-level productivity measures, to examine average productivity
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growth. As such, economic transformation emphasises the movement from low- to high-productivity activities within and across all sectors (which can be tasks or activities that are combinations of agriculture, manufacturing and services). This movement of resources from lower- to higher-productivity
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Within-sector productivity growth (also called âČsector transformation') entails the adoption of new technologies and management practices that increase the efficiency of production. It can come about as a result of the increased efficiency of existing firms or as a result of the reallocation of
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to show the levels of specialisation of a country in certain exports; and (2) export diversification measures such as those produced by the
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Baseline on economic transformation: Review of the international, regional and domestic literature on economic transformation
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resources away from the least productive firms towards more productive firms.
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Herrendorf, Berthold; Rogerson, Richard; Valentinyi, Ăkos (April 2013).
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International
Monetary Fund Diversification Toolkit, available here:
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Africaâs economic transformation: the role of
Chinese investment
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https://www.imf.org/external/np/res/dfidimf/diversification.htm
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McMillan, M., J. Page, D. Booth and D.W. te Velde (2017).
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McMillan, M., J. Page, D. Booth and D.W. te Velde (2017).
118:"Globalization, Structural Change and Productivity Growth"
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McMillan, M., J. Page, D. Booth and D.W. te Velde (2017).
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Worral, L. K. Vrolijk, C. Mason and N. Balchin (2015).
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Sources and methods of data for economic transformation
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Supporting
Economic Transformation: An approach paper.
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Supporting
Economic Transformation: An approach paper
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Supporting
Economic Transformation: An approach paper
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activities is a key driver of economic development.
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781:neoclassicalâKeynesian synthesis
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286:Game theory
263:Theoretical
1338:Categories
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1018:von Wieser
938:von ThĂŒnen
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695:Chartalism
685:Behavioral
648:Mainstream
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490:Humanistic
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395:Behavioral
61:References
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