The Great Services Illusion (Project-Syndicate)

In the wake of COVID-19, some economists are calling for developing countries to shift from industrialization to services, or even to bypass the manufacturing stage of development altogether. But blind faith in services-led growth is a dangerous illusion, and the arguments supporting it are deeply flawed.

https://www.project-syndicate.org/commentary/developing-countries-great-services-illusion-by-celestin-monga-2020-09

Célestin Monga, a former managing director at the United Nations Industrial Development Organization and former senior economic adviser at the World Bank, is Visiting Professor of Public Policy at Harvard University’s John F. Kennedy School of Government. He is the author, most recently, of The Oxford Handbook of Structural Transformation and the co-author (with Justin Yifu Lin) of Beating the Odds: Jump-Starting Developing Countries.

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