Abstract This chapter investigates the consequences of different patterns of specialization and export for the long-term growth paths of developing countries (in terms of patterns, pace, and sustainability). A comparison between East Asian and Latin American countries highlights the different potentials for productivity growth and production upgrading of different specialization patterns. It is argued that the latter come together with different internal institutional arrangements and can be influenced by explicit policy measures. The chapter discusses the degrees of freedom that developing countries have in their “choices” of specialization and the underlying political economy.
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