No.97 Industrial Transformation and Quality of Growth
This paper aims to gain insights into the interrelationship between transformation and quality of growth with attributes such as being inclusive, sustainable, innovative, secure, and balanced. It draws on case studies regarding four outstanding cases of industrial transformation. This analysis found that quality of growth needs to be discussed in the context of transformation because it features basically in the driving forces of growth, and that the interrelationship between transformation and quality of growth needs to be considered in a holistic manner as a comprehensive target to be achieved. As such, it might be more realistic to design measures to attain the desired attributes of quality of growth alongside the development of specific industries, within which structural transformation is taking place. On the other hand, as the interrelationship between attributes of quality growth and industrial transformation is complex, a comprehensive approach is needed, which pays due attention to macro-economic balance and stability, fiscal balance, synergy, trade-offs, and so on.
Keywords: quality of growth, transformation, inclusiveness, sustainability, Cerrado, aquaculture, garment, automobile, Brazil, Chile, Bangladesh, Thailand