Economic diversity
Nowadays, Economic diversity is a topic of great relevance in today's society. For decades, Economic diversity has been the subject of interest and debate in different areas, from politics to science. There are many aspects surrounding Economic diversity, from its origins to its global implications. In this article, we will explore some of the most relevant facets of Economic diversity, addressing its multiple dimensions and impacts today. From its influence on the economy, through its repercussions on daily life, to its relationship with other areas of knowledge, Economic diversity is presented as a topic of study and reflection of great importance to understand the current world. Along these lines, we will analyze some of the ideas and theories that have emerged around Economic diversity, as well as the perspectives and debates that remain valid today.
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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. Diversification is used as a strategy to encourage positive economic growth and development. Research shows that more diversified economies are associated with higher levels of gross domestic product.
Economic 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.
Diversification examples in countries
Good examples of national economy diversification are Chile, Malaysia and Brazil.
See also
- Diversification (finance)
- Diversification (marketing strategy)
- Commodity dependence
- 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.
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