Economic diversity
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Economic diversity or economic diversification refers to variations in the economic status or the use of a broad range of economic activities in a region or country.[1] Diversification is used as a strategy to encourage positive economic growth and development.[2] Research shows that more diversified economies are associated with higher levels of gross domestic product.[3]
Diversification types[]
- Non-connected diversification - creating a new area. The process is slow, because it is needed to create a whole infrastructure, but the profit would be higher.
- Connected diversification is based on an economical mechanism for expanding the available potential. For business development it means low risks and good margin.
- Combined diversification - more frequently both methods are used together. [2]
Diversification examples in countries[]
Good examples of national economy diversification are Chile, Malaysia and Brazil.[4]
See also[]
- Diversification (finance)
- Diversification (marketing strategy)
- Financial inclusion
- Western Economic Diversification Canada
References[]
- ^ "Economic Diversity". www.chmuraecon.com.
- ^ a b "Economic diversification". unfccc.int.
- ^ Freire, Clovis. "Economic Diversification: Explaining the pattern of diversification in the global economy and its implications for fostering diversification in poorer countries" (PDF). UN/DESA.
- ^ "A well diversified economy requires a regional touch". The National. Retrieved 2020-03-29.
Categories:
- Distribution of wealth
- Strategic management
- Economic development policy
- Wealth stubs