EDB: Strong domestic industry is key to developing economies joining the high-income group

ArmInfo.  The Eurasian Development Bank (EDB) has presented a new analytical report, «The Architecture of Industrial Transformation in Developing Economies», analyzing how developing countries can transition to the high-income category and establish themselves sustainably in this group. Based on a study of the historical experience of industrialization, modern theories of industrial policy, and the approaches of the World Bank and the IMF, EDB analysts propose a three-stage architecture of industrial transformation that enables external technologies and investments to be converted into domestic production capabilities, human capital, and innovation.