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  • 标题:Less Volatile than Meets the Eye
  • 本地全文:下载
  • 作者:Rabah Arezki ; Daniel Lederman ; Hongyan Zhao
  • 期刊名称:Finance and Development
  • 印刷版ISSN:0015-1947
  • 电子版ISSN:0145-1707
  • 出版年度:2011
  • 卷号:48
  • 期号:04
  • 出版社:International Monetary Fund
  • 摘要:

    MOST economists think economic development requires the reallocation of resources from low-productivity to high-productivity uses. The commodity, or primary, sector is seen as a low-productivity area, whereas the manufacturing, or secondary, sector is considered high productivity. Historically, as economies developed, the size of the commodity sector tended to shrink and the noncommodity sectors grew (Kuznets, 1966). Although there are a few exceptions, such as Norway, this apparently consistent relationship between development and the relative size of the commodity sector suggests that an economy will develop successfully if it relies less on commodities and diversifies into other—generally, manufactured—products.

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