Format:
1 Online-Ressource
Series Statement:
Policy Research Working Papers 10344
Content:
Developing countries are deindustrializing at earlier stages of development than experienced by advanced economies. Is this trend symptomatic of inefficiency If so, what are the welfare costs This paper proposes a definition of premature deindustrialization based on whether the pace of deindustrialization diverges from the one implied by a theoretical benchmark of efficient sectoral allocation. It identifies 10 episodes of premature deindustrialization, carrying negligible welfare costs, below 1 percent of aggregate consumption
Note:
English
,
en
Language:
English
