This is the role the services sector can play in transforming economies

Mar 31, 2023

Productivity growth has underpinned the expansion of the services sector. Image: Pexels/Ksenia Kartasheva

Gaurav Nayyar

Lead Economist in the Equitable Growth, Finance, and Institutions Vice Presidency , World Bank

Shu Yu

Economist, Development Economic Prospects Group of the World Bank

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Productivity growth has underpinned the expansion of the services sector in developing economies, such as India, where most jobs have been created since the 1990s. Image: Sposi et al. (2021)

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Graphs showing manufacturing versus aggregate productivity relative to respective frontier. services sector

Cross-country productivity gaps in manufacturing have not shrunk in the past three decades. Image: Herrendorf et al.

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