Overview
Structural change and economic transition are vital concepts in understanding how economies evolve over time. Structural change involves shifts in the economic framework, often driven by technological advancements, globalization, and policy reforms. These changes can lead to new industries emerging ...
Key Terms
Example: A country with a strong agricultural sector has a different economic structure than one focused on technology.
Example: The shift from manufacturing to service industries in developed countries.
Example: Countries in Eastern Europe after the fall of the Soviet Union.
Example: China's rapid industrialization over the past few decades.
Example: Privatization of state-owned enterprises in Russia.
Example: The rise of multinational corporations operating in multiple countries.