Deindustrialization, Tertiarization and Development in a ‘GVC-World’: What do new trajectories of structural transformation mean for developing countries?
Project leads: Andy Sumner (King’s College London) and Arief Yusuf (Padjadjaran University)
Summary: The traditional pathway to economic development and structural transformation— industrialization—is becoming harder to start on and harder to sustain for developing countries as more countries compete over a place in fragmented global value chains (GVCs) or ‘GVC-world’. In fact, many middle-income developing countries are shifting to a new pathway, namely that of deindustrialization or tertiarization. The shift from traditional to new trajectories of structural transformation has implications for future economic growth, employment creation, inequality and poverty reduction in developing countries.
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|Andy Sumner||Deindustrialization, Tertiarization and Development in a ‘GVC-World’: What do new trajectories of structural transformation mean for developing countries?|
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