Rethinking Development Policy: Deindustrialization, Servicification and Structural Transformation

50 Pages Posted: 16 Oct 2018

See all articles by Manoj Atolia

Manoj Atolia

Florida State University - Department of Economics

Prakash Loungani

International Monetary Fund (IMF)

Milton H. Marquis

Florida State University - Department of Economics

Chris Papageorgiou

International Monetary Fund (IMF) - Research Department

Date Written: September 2018

Abstract

This paper takes a fresh look at the current theories of structural transformation and the role ofprivate and public fundamentals in the process. It summarizes some representative past andcurrent experiences of various countries vis-a-vis structural transformation with a focus on theroles of manufacturing, policy, and the international environment in shaping the trajectory ofstructural transformation. The salient aspects of the current debate on prematuredeindustrialization and its relation to a middle-income trap are described as they relate to thepath of structural transformation. Conclusions are drawn regarding prospective future paths forstructural transformation and development policies.

Keywords: Africa, Development policies, structural transformation, premature deindustrialization, middle-income trap, push factors, growth diagnostics, Macroeconomic Analyses of Economic Development, General, Institutions and Growth

JEL Classification: O11, O20, O43, O50, O55

Suggested Citation

Atolia, Manoj and Loungani, Prakash and Marquis, Milton H. and Papageorgiou, Chris, Rethinking Development Policy: Deindustrialization, Servicification and Structural Transformation (September 2018). IMF Working Paper No. 18/223. Available at SSRN: https://ssrn.com/abstract=3267246

Manoj Atolia (Contact Author)

Florida State University - Department of Economics ( email )

Tallahassee, FL 30306-2180
United States
+1.850.644.7088 (Phone)
+1.850.644.4535 (Fax)

HOME PAGE: http://mailer.fsu.edu/~matolia/

Prakash Loungani

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States
202-623-7043 (Phone)
202-623-4740 (Fax)

Milton H. Marquis

Florida State University - Department of Economics ( email )

Tallahassee, FL 30306-2180
United States

Chris Papageorgiou

International Monetary Fund (IMF) - Research Department ( email )

700 19th Street NW
Washington, DC 20431
United States

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