Beyond Industrialization: New Approaches to Development Strategy Based on the Service Sector

Abstract

Most of the countries that are now developed achieved that status in large part through a process of industrialization, involving a substantial shift of capital and labour into industrial activity, and a rapid increase in the share of industrial value added in GDP during the development process. As a result industrialization occupies a central place in the rich tapestry of development theory and practice, although that place has varied as those theories and practices have changed over time. Many of the writings of the so-called ‘high development theory’ period of the 1940s and the 1950s were concerned with the conditions for industrialization, and Kaldor wrote (1966: 54) that ‘there can be little doubt that the kind of economic growth which involves the use of modern technology and which eventuates in high real income per capita, is inconceivable without industrialization.’ These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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