Structural Transformation and Patterns of Comparative Advantage in the Product Space

@article{Hausmann2006StructuralTA,
  title={Structural Transformation and Patterns of Comparative Advantage in the Product Space},
  author={Ricardo Hausmann and Bailey Klinger},
  journal={International Trade},
  year={2006}
}
In this paper we examine the product space and its consequences for the process of structural transformation. We argue that the assets and capabilities needed to produce one good are imperfect substitutes for those needed to produce other goods, but the degree of asset specificity varies widely. Given this, the speed of structural transformation will depend on the density of the product space near the area where each country has developed its comparative advantage. While this space is… 
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