Economic Complexity as a Determinant of the Industrialization of Countries

The industrialization of a country is an impressive process, deeply changing the population and the institutions of the country while new and old resources are tapped to achieve growth. During this transition, the growth rate of the economy is much higher than the global average and much higher than the past and future growth rates of that country. It is, however, a transition, and as such, is limited in time. When the industrialization process has touched all the sectors, when most of the population is educated and near full employment and when all the scale economies have been fulfilled, the process loses its revolutionary power and the new society now sits among the developed countries.