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Structural change, commodity dependence and middle-income trap: Emerging approaches to a traditional agenda

The objective of this paper is to revisit key themes of development literature in the light of novel emerging approaches. Applying complexity economic tools, evidence is presented to argue that, along the development trajectory of countries, a complexity increase, to be sustainable, must go hand in...

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Main Author: Isabella, Fernando (author)
Format: article
Language:English
Published: 2024
Subjects:
Economic development
Commodity dependence
Middle-income trap
Structural change
FINANZAS INTERNACIONALES
COMERCIO INTERNACIONAL
Online Access:https://hdl.handle.net/20.500.12008/51437
https://doi.org/10.13133/2037-3643/18653
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author Isabella, Fernando
author_browse Isabella, Fernando
author_facet Isabella, Fernando
author_role author
collection COLIBRI
dc.contributor.none.fl_str_mv Isabella Fernando, Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economía
dc.creator.none.fl_str_mv Isabella, Fernando
dc.date.none.fl_str_mv 2024
2025-09-04T12:27:07Z
2025-09-04T12:27:07Z
dc.format.none.fl_str_mv 22 p.
application/pdf
dc.identifier.none.fl_str_mv ISABELLA, Fernando. Structural change, commodity dependence and middle-income trap: Emerging approaches to a traditional agenda. PSL Quarterly Review, 2024, vol. 77, n° 310, pp. 329–350. https://doi.org/10.13133/2037-3643/18653
https://hdl.handle.net/20.500.12008/51437
https://doi.org/10.13133/2037-3643/18653
dc.language.none.fl_str_mv en
eng
dc.publisher.none.fl_str_mv Associazione Economia civile
dc.relation.none.fl_str_mv PSL Quarterly Review, 2024, vol. 77, n° 310, pp. 329–350. https://doi.org/10.13133/2037-3643/18653
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
Licencia Creative Commons Atribución - No Comercial - Sin Derivadas (CC - By-NC-ND 4.0)
dc.source.none.fl_str_mv reponame:COLIBRI
instname:Universidad de la República
instacron:Universidad de la República
dc.subject.none.fl_str_mv Economic development
Commodity dependence
Middle-income trap
Structural change
FINANZAS INTERNACIONALES
COMERCIO INTERNACIONAL
dc.title.none.fl_str_mv Structural change, commodity dependence and middle-income trap: Emerging approaches to a traditional agenda
dc.type.none.fl_str_mv Artículo
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
description The objective of this paper is to revisit key themes of development literature in the light of novel emerging approaches. Applying complexity economic tools, evidence is presented to argue that, along the development trajectory of countries, a complexity increase, to be sustainable, must go hand in hand with a departure from their productive historical path, in the form of unrelated diversification. Also, it is argued that successful trajectories must avoid the middle-income trap (MIT), which is shown to stem from the interplay of supply and demand factors. Finally, building on balance of payments constrained growth literature, a theoretical model is proposed to explain the high prevalence of MIT situations among commodity-dependent countries. It is suggested that this phenomenon arises from the interaction of commodity price volatility and real exchange rates, which affects the accumulation of sophisticated productive capabilities.
eu_rights_str_mv openAccess
format article
id anni_7cf89733ef595759a2369a0509656d60
identifier_str_mv ISABELLA, Fernando. Structural change, commodity dependence and middle-income trap: Emerging approaches to a traditional agenda. PSL Quarterly Review, 2024, vol. 77, n° 310, pp. 329–350. https://doi.org/10.13133/2037-3643/18653
instacron_str Universidad de la República
institution Universidad de la República
instname_str Universidad de la República
language eng
language_invalid_str_mv en
network_acronym_str anni
network_name_str oai-lr-anni
oai_identifier_str oai:colibri.udelar.edu.uy:20.500.12008/51437
publishDate 2024
publishDateSort 2024
publisher.none.fl_str_mv Associazione Economia civile
reponame_str COLIBRI
repository.mail.fl_str_mv
repository.name.fl_str_mv
repository_id_str
rights_invalid_str_mv Licencia Creative Commons Atribución - No Comercial - Sin Derivadas (CC - By-NC-ND 4.0)
spelling Structural change, commodity dependence and middle-income trap: Emerging approaches to a traditional agendaIsabella, FernandoEconomic developmentCommodity dependenceMiddle-income trapStructural changeFINANZAS INTERNACIONALESCOMERCIO INTERNACIONALThe objective of this paper is to revisit key themes of development literature in the light of novel emerging approaches. Applying complexity economic tools, evidence is presented to argue that, along the development trajectory of countries, a complexity increase, to be sustainable, must go hand in hand with a departure from their productive historical path, in the form of unrelated diversification. Also, it is argued that successful trajectories must avoid the middle-income trap (MIT), which is shown to stem from the interplay of supply and demand factors. Finally, building on balance of payments constrained growth literature, a theoretical model is proposed to explain the high prevalence of MIT situations among commodity-dependent countries. It is suggested that this phenomenon arises from the interaction of commodity price volatility and real exchange rates, which affects the accumulation of sophisticated productive capabilities.Associazione Economia civileIsabella Fernando, Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economía2025-09-04T12:27:07Z2025-09-04T12:27:07Z2024Artículoinfo:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersion22 p.application/pdfISABELLA, Fernando. Structural change, commodity dependence and middle-income trap: Emerging approaches to a traditional agenda. PSL Quarterly Review, 2024, vol. 77, n° 310, pp. 329–350. https://doi.org/10.13133/2037-3643/18653https://hdl.handle.net/20.500.12008/51437https://doi.org/10.13133/2037-3643/18653reponame:COLIBRIinstname:Universidad de la Repúblicainstacron:Universidad de la RepúblicaenengPSL Quarterly Review, 2024, vol. 77, n° 310, pp. 329–350. https://doi.org/10.13133/2037-3643/18653Las obras depositadas en el Repositorio se rigen por la Ordenanza de los Derechos de la Propiedad Intelectual de la Universidad de la República.(Res. Nº 91 de C.D.C. de 8/III/1994 – D.O. 7/IV/1994) y por la Ordenanza del Repositorio Abierto de la Universidad de la República (Res. Nº 16 de C.D.C. de 07/10/2014)info:eu-repo/semantics/openAccessLicencia Creative Commons Atribución - No Comercial - Sin Derivadas (CC - By-NC-ND 4.0)oai:colibri.udelar.edu.uy:20.500.12008/514372026-04-14T10:40:21Z
spellingShingle Structural change, commodity dependence and middle-income trap: Emerging approaches to a traditional agenda
Isabella, Fernando
Economic development
Commodity dependence
Middle-income trap
Structural change
FINANZAS INTERNACIONALES
COMERCIO INTERNACIONAL
status_str publishedVersion
title Structural change, commodity dependence and middle-income trap: Emerging approaches to a traditional agenda
title_full Structural change, commodity dependence and middle-income trap: Emerging approaches to a traditional agenda
title_fullStr Structural change, commodity dependence and middle-income trap: Emerging approaches to a traditional agenda
title_full_unstemmed Structural change, commodity dependence and middle-income trap: Emerging approaches to a traditional agenda
title_short Structural change, commodity dependence and middle-income trap: Emerging approaches to a traditional agenda
title_sort Structural change, commodity dependence and middle-income trap: Emerging approaches to a traditional agenda
topic Economic development
Commodity dependence
Middle-income trap
Structural change
FINANZAS INTERNACIONALES
COMERCIO INTERNACIONAL
url https://hdl.handle.net/20.500.12008/51437
https://doi.org/10.13133/2037-3643/18653

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