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Can Service Be a Growth Escalator in Low Income Countries?

ACCESS TO TECHNOLOGY ACCOUNTING AGRICULTURAL PRODUCTIVITY AGRICULTURAL SECTOR AGRICULTURE ANNUAL GROWTH ANNUAL GROWTH RATE AUTOMATION BACKBONE BEST PRACTICES BLOG BUSINESS ENTRY BUSINESS ENVIRONMENT BUSINESS REGISTRATION BUSINESSES BUYER BUYERS CAPABILITIES COMPARATIVE ADVANTAGE COMPARATOR COUNTRIES COMPETITIVENESS CONNECTIVITY CONSUMERS COUNTRY SPECIFIC CRISES CURRENT EXPENDITURES CUSTOMS DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPING REGIONS DEVELOPING WORLD DEVELOPMENT ECONOMICS DEVELOPMENT INDICATORS DEVELOPMENT POLICY DEVELOPMENT STRATEGY DIVERSIFICATION ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC LITERATURE ECONOMIC OUTLOOK ECONOMIC RESEARCH ECONOMIES OF SCALE EDUCATED WORKERS ELASTICITY ELECTRICITY EMPLOYMENT EMPLOYMENT CREATION EMPLOYMENT PATTERNS ENTREPRENEURSHIP EXPORTS EXTERNALITIES EXTREME POVERTY FACTORING FEMALE LABOR FINANCIAL CRISIS FINANCIAL PRODUCTS FINANCIAL SERVICES FISCAL DEFICITS FISCAL POLICY FOREIGN INVESTMENT GDP GDP PER CAPITA GLOBAL ECONOMY GLOBAL SUPPLY CHAINS GLOBALIZATION GOVERNMENT POLICY GROWTH EPISODE GROWTH LITERATURE GROWTH MODEL GROWTH PROSPECTS GROWTH RATE GROWTH RATES GROWTH STRATEGY HEALTH CARE HIGH GROWTH HIGH INCOME COUNTRIES IMPROVING PRODUCTIVITY INCOME INDUSTRIAL DEVELOPMENT INDUSTRIAL POLICY INDUSTRIAL REVOLUTION INDUSTRIAL SECTOR INDUSTRIALIZATION INFORMATION TECHNOLOGY INNOVATION INNOVATIONS INSTITUTION INSURANCE INTERNATIONAL TRADE JOB CREATION LABOR ECONOMICS LABOR FORCE LABOR MARKET LABOR PRODUCTIVITY LABOR SUPPLY LOW-INCOME COUNTRIES MACROECONOMICS MANUFACTURING MANUFACTURING INDUSTRY MARKET FAILURES MARKET SHARE MARKETING METROPOLITAN AREAS MIDDLE INCOME COUNTRIES NATIONAL ACCOUNTS NATURAL RESOURCES NEW ENTRANTS NEW TECHNOLOGIES OPEN ACCESS OUTSOURCING PER CAPITA INCOMES PERSONAL COMPUTER PHYSICAL INFRASTRUCTURE POLICY MAKERS POLICY RESEARCH POLITICAL ECONOMY POVERTY DECLINE POVERTY REDUCTION PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRODUCT INNOVATION PRODUCTIVITY PRODUCTIVITY GROWTH PRODUCTIVITY INCREASES PUBLIC SERVICES REGULATORY ENVIRONMENT RENTS RESULT RICH COUNTRIES SAFETY SAVINGS STRUCTURAL CHANGE STRUCTURAL POLICIES SUPPLIERS SUPPLY CHAIN SUPPLY CHAINS TECHNICAL SKILLS TECHNICAL STANDARDS TECHNOLOGICAL PROGRESS TECHNOLOGY FRONTIER TELECOMMUNICATION TRADE DATABASE TRADE NEGOTIATIONS TRADE OUTCOME TRADE OUTCOMES TRADE POLICY TRANSPORT UNSKILLED LABOR URBAN AREAS URBANIZATION VALUE ADDED VALUE CHAIN VALUE CHAINS WAGE STRUCTURE WAGES WEB
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World Bank Group, Washington, DC
Africa | Africa
2014-08-15T14:51:31Z | 2014-08-15T14:51:31Z | 2014-07

Several high-level reports have raised the concern that low-income countries, especially in Africa, are experiencing premature de-industrialization. The concern is that they are growing without transforming. Have the latecomers to development missed the boat? Although these concerns are well placed, Africa's growth seems to be benefitting from a structural transformation of a different kind. The manufacturing sector as a share of gross domestic product has shrunk, but countries have benefitted from the third industrial revolution with globalization of services being at the forefront of this technological revolution. As services produced and traded across the world expand with globalization, the possibilities for low-income countries to develop based on their comparative advantage expand. That comparative advantage can just as easily be in services as in manufacturing. Comparative advantage need not be a one-trick pony.

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