The Consequences of Economic Diversification and Change for Asian Development

2 May 2009 (2:00 p.m. - 3:45 p.m.)

Using the metaphor of how monkeys (firms) jump across trees (products) in the forest (product space), and using recently developed methodologies, the seminar will examine some of the factors that enabled some developing economies to industrialize and move beyond agriculture and commodity-based production and become modern industrial and service economies.

Across much of developing Asia, a challenge is growth and development through structural transformation - the process of economic diversification and upgrading, shifting from the production and export of simple products to that of products of greater complexity and sophistication. Some countries have succeeded in moving along this desirable path of structural change, leading to sustained export growth, greater technological content in manufactured products, and higher wages and more jobs in skilled categories; while other countries unfortunately remain stalled, or have even regressed, in terms of diversification and/or level of sophistication of their export basket.

Speakers will discuss findings from recent research and analysis, with country cases/examples from East Asia, South Asia and Central Asia. The seminar will highlight recommendations for economic planning and policy formulation.

PROGRAM/SPEAKERS

Ricardo Hausmann
Professor, Practice of Economic Development and Director, Center for International Development, Harvard University
Presentation: The Consequences of Economic Diversification and Change for Asian Development

Jesus Felipe
Principal Economist, Central and West Asia Department, Asian Development Bank

Note: All times are in GMT+08. For inquiries, e-mail: amseminars@adb.org.