Structural Change
Structural change refers to the transformation in the composition of an economy over time, often characterized by shifts in the relative contribution of different sectors, industries, or technologies. It can result from innovation, policy reforms, globalization, demographic changes, or shifts in comparative advantage.
Diversification Mechanism
Diversification mechanisms describe the processes and pathways through which economies, industries, or firms expand into new products, services, or markets. They focus on how existing capabilities are leveraged or new capabilities are developed to achieve sustainable growth.
Diversification Model
A diversification model outlines strategies and pathways through which an economy, industry, or firm broadens its range of products, services, or markets. It captures both the drivers of diversification and the mechanisms through which new capabilities are developed and leveraged.