Manufacturing as the Key Engine of Economic Growth for Middle-Income Economies
world2016-05-25
18 Views
This paper revisits the role of the manufacturing sector during the middle-income stage. By exploiting a large dataset that covers internationally comparable sectoral information, we prove that the manufacturing sector is imbued with three important characteristics. First, for middle-income economies, manufacturing pulls along services, instead of the other way around. A decline in the manufacturing sector growth rate will negatively affect the growth rate of the services sector, in both the short-run and long-run meanings.
Source: Publications from the Asian Development Bank (ADB.org)
The news, reports, views and opinions of authors (or source) expressed are their own and do not necessarily represent the views of CRWE World.
