Structural transformation is a central driver of economic development, yet recent challenges such as premature deindustrialization have raised critical questions about whether low-income economies can still follow traditional growth paths that rely on manufacturing expansion to drive...

We argue that secular change in both the production and composition of investment goods has weakened investment's role in the transmission of monetary policy to labor earnings and consumption. We show analytically that fluctuations in the production of investment goods amplify the response of...

In this article, we examine the dynamic interdependencies among components of Japan's consumer price index (CPI) using a two-lag time-varying loading factor (TLTVLF) model. Whereas previous studies have typically decomposed CPI series into long-term trends, seasonal patterns, and cyclical...

This paper examines Mexico's integration into Global Value Chains (GVCs) and its implications for structural change over the period 1995-2020. Using a multiregional input-output framework, the analysis decomposes gross exports into domestic and foreign value added and combines these indicators...

This paper reviews the process of structural transformation (ST) across a wide range of Asian economies. After outlining key theories of ST, it documents Asia's transformation and compares it with patterns observed elsewhere, using standard indicators and broader dimensions of structural change....

Technological change has historically widened or preserved gender gaps in labor market outcomes in favor of men. The World Bank’s Digital Transformation and Its Role in Expanding Women’s Economic Opportunities in Iraq, Jordan, and Lebanon provided a comprehensive diagnostic of the digital...

Structural transformation is widely recognized as a key driver of productivity growth and economic development, with industrial policies often playing a crucial role in this process. However, the challenge of premature deindustrialization-where economies experience a decline in manufacturing's...