Abstract
Structural transformation is a key feature of economic development. Developed countries all followed the same process of structural transformation. This paper asks whether developing countries also follow a similar process. Three key findings emerge from the detailed analysis. First, developing countries are following different paths of structural transformation that deviate from those of developed countries in different ways. Second, the paths of the subcontinents of Africa, Asia, and Latin America are distinct, and there is great heterogeneity within each region. Third, many countries experience substantial structural transformation during periods of economic stagnation or even decline.
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