Structural Transformation of Industrial Products for Economic Take-off

📖 Through the theoretical and empirical research on developed industrial nations and emerging economies, a recognition concerns the process of economic structural transformation, the core of which is the move of structure of industrial products. The author suggests the theory of industrial-product structure as an efficient measurement ruler of modification of economic structure. That is an explanation on the capability or incapability to take off in nations with growth. This theory is applied to the transition economy in Vietnam for the years between 1986 and 2012 to clarify the reason of long-term growth but failure to the take-off and open up solutions for the restructuring in the four industrial groups. It includes heavy industry, supporting industry, consumer industry and processing industry that is Vietnam’s advantage for competition. At the same time, a reform of institutions related to economy and commerce is advised for continuation; the role and position of each economic sector is defined for attraction policy and effective investment