Dani Rodrik: Why East Asia’s manufacturing-led growth model may no longer help economies emerge
As the economists Tianyu Fan, Michael Peters, and Fabrizio Zilibotti show in detailed empirical work, India’s remarkable economic growth has been driven by productivity gains in consumer services such as retail and hospitality produced for local markets, not in skill-intensive, exportable services such as information and communications technology and business process outsourcing for which the country is well known.
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