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Title: Industrial Development for the 21st Century: Sustainable Development Perspectives
Authors: JoAnne DiSano
Keywords: Regional Development
Issue Date: 2007
Description: Economic development is fundamentally a process of structural transformation1 . This involves the reallocation of productive factors from traditional agriculture to modern agriculture, industry and services, and the reallocation of those factors among industrial and service sector activities. If successful in accelerating economic growth, this process involves shifting resources from low- to high-productivity sectors. More broadly, sustained economic growth is associated with the capacity to diversify domestic production structure: that is, to generate new activities, to strengthen economic linkages within the country and to create domestic technological capabilities. The industrial and modern service sectors typically contribute dynamically to this diversification process. Indeed, the evidence of the past quarter century – or, indeed, of the post-war era in the developing world – clearly indicates that rapid growth in the developing world has been invariably associated with diversification of production into manufacturing and modern services, while slow growth has been usually associated with swelling lowproductivity services
Appears in Collections:Environmental and Development Studies

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