Throughout history, industrialization has been synonymous with development. However, the trend of premature deindustrialization and the spread of automation technologies associated with Industry 4.0 has raised concerns that the development model based on export-led manufacturing seen in East Asia will be harder for hitherto less industrialized countries to replicate in the future. Can services-led development be an alternative? Contrary to conventional wisdom, the features of manufacturing that were considered uniquely conducive for productivity growth - such as international trade, scale economies, inter-sectoral linkages, and innovation - are increasingly shared by the services sector. But services are not monolithic. The twin gains of productivity growth and large-scale job creation for relatively low-skilled workers are less likely to come together in any given services subsector. The promise of services-led development in the future will be strengthened to the extent that technological change reduces the trade-off between productivity and jobs, and growth opportunities in services with potential for high productivity do not depend on a manufacturing base. Considering technological change and linkages between sectors while differentiating across types of services, this book assesses the scope of a services-driven development model and policy directions that maximize its potential.
Details
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Author
Nayyar,Gaurav, Hallward-Driemeier,Mary C., Davies,Elwyn Adriaan Robin
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Document Date
2021/10/07
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Document Type
Publication
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Report Number
164078
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Volume No
1
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Total Volume(s)
3
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Country
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Region
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Disclosure Date
2021/10/07
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Disclosure Status
Disclosed
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Doc Name
At Your Service? : The Promise of Services-Led Development
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Keywords
Manufacturing; state-owned enterprise; software development service; competitiveness and private sector development; productivity growth; information and communication technology; Massachusetts Institute of Technology; access to international market; gross national income; share of employment; Learning and Innovation Credit; manufacturing sector; per capita income; foreign direct investment; global value chain; characteristics of services; labor productivity growth; product market regulation; other sectors; Job Creation; product of labor; demand for skill; total factor productivity; Gender and Jobs; software technology park; paucity of data; economies of scale; supply chain linkage; adoption of ict; preferential trade agreement; tertiary enrollment rate; highly skilled individual; purchasing power parity; increasing share; free trade agreement; export value; business process outsourcing; producer price index; balance of payment; privileges and immunity; industrial sector
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Citation
Nayyar,Gaurav Hallward-Driemeier,Mary C. Davies,Elwyn Adriaan Robin
At Your Service : The Promise of Services-Led Development (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/155731631771398616/At-Your-Service-The-Promise-of-Services-Led-Development