Social:Economic diversity
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Short description: Variation of economic activities within a country or region
}} 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
- Diversification (marketing strategy)
- Commodity dependence
- Financial inclusion
- Western Economic Diversification Canada
References
- ↑ "Economic Diversity" (in en). http://www.chmuraecon.com/interactive/economic-diversity/.
- ↑ 2.0 2.1 "Economic diversification". https://unfccc.int/topics/resilience/resources/economic-diversification.
- ↑ Freire, Clovis. "Economic Diversification: Explaining the pattern of diversification in the global economy and its implications for fostering diversification in poorer countries". https://www.un.org/esa/desa/papers/2017/wp150_2017.pdf.
- ↑ "A well diversified economy requires a regional touch" (in en). https://www.thenational.ae/a-well-diversified-economy-requires-a-regional-touch-1.341409.
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