development for today’s markets: aligning practices with economic …€¦ · development for...
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DEVELOPMENT FOR TODAY’S MARKETS: ALIGNING
PRACTICES WITH ECONOMIC TRANSFORMATION
EXECUTIVE SUMMARY
We are at an important juncture in international economic development. Globalization has led to an
era of unprecedented interconnectivity of commodity and financial markets. The world’s developing
economies are in the midst of significant structural transformations, as agriculture slowly cedes its share
of gross domestic product (GDP) to manufacturing and services across every continent. Incomes around
the world are rising and the global middle class is growing.
These dynamics have influenced (and have been influenced by) significant changes in where and how
we live. Globally, humans became a majority urban species more than 10 years ago. Africa’s share of the
world’s urban population is forecast to nearly double by 2050, but this is a slightly outdated distinction:
increasingly, city and countryside blur together into a rural-urban continuum with constant migration
between the two. Africa’s population continues to grow, leading to the much-discussed youth bulge.
But what do these dynamics mean for economic development practitioners like us who work on these
issues daily? Through this paper, we try to provide a brief—and necessarily incomplete—answer to
these questions in three parts:
1. We sketch out the broad contours of developing countries’ structural transformation and how it
differs from the structural transformation pathways1 followed by today’s developed economies.
2. We look at how livelihood strategies are evolving in the midst of these transformations.
3. We outline several implications for our work as economic development specialists.
Audience: This paper is intended primarily for development practitioners and policy makers who don’t
often get the opportunity to look up from their professional niches and consider the implications of
larger macroeconomic, demographic, and other dynamics. Our findings draw from recent research on
these topics. Our objective is to synthesize key elements of this research in a way that is accessible for
development practitioners, enabling us to gain a better understanding of what structural transformation
could mean for our work.
1 By pathways, we mean the magnitude and sequence of growth across the agricultural, manufacturing, and service sectors, as well as their cumulative developmental impacts, over time.
WHITE PAPER
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HOW ARE ECONOMIES TRANSFORMING?
For decades, economic development paradigms
have looked to the histories of currently
developed countries to create a roadmap for
developing countries today. The impulse is
understandable: the wave of structural
transformation that began with the Industrial
Revolution in 18th century North America and
Europe created economies and societies that
are economically complex and diverse, have
educated and relatively healthy populations,
and a substantial middle class. Indeed, we are
seeing several positive echoes of these past
successes in developing countries today (see
text box on next page).
Globally, populations and economies are
getting wealthier and moving off the farm.
Across Africa, those living in extreme poverty
(at or below US$1.75/day) dropped from 54.3
percent to 44.5 percent. Globally, the middle
class more than doubled in size from 2000 (1.5
billion people) to 2016 (3.2 billion people)
(Karas, 2017). In Africa, the middle class grew
from 24 percent of the population in 1990 to 33
percent in 2008, more than doubling from 119
million to 271 million people in that period.
Looking ahead, nearly 90 percent of middle
class growth from now to 2022 is forecast to be
in Asia, with the vast majority in China and India
(ibid).
Populations and economies are diversifying out
of primary agriculture into more productive
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30
40
50
60
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80
1981 1986 1991 1996 2001 2006 2011 2016
EA services ECA services LAC services S Asia services
SSA services EA ag ECA ag LAC ag
S Asia ag SSA ag
Figure 1. Services (solid) and Agriculture (dashed) percent value add to GDP by region, 1980-2017
Across Africa, those living in extreme poverty (at or
below US$1.75/day) dropped from 54.3 percent to
44.5 percent.
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sectors of the economy (see Figure 1). Services
and manufacturing benefit from proximity to
consumers, infrastructure, and production
inputs known as agglomeration effects. As
these sectors grow, they become a key driver of
urbanization. Africa’s share of the global urban
population is expected to nearly double from
11.3 percent in 2010 to 20.2 percent in 2050
(Awumbila, 2017). Asia’s population is forecast
to become majority urban in the latter half the
2020s (UN ESCAP, 2013). As incomes rise and
populations urbanize, their diets are becoming
more diverse, both in composition (more meat,
fish, dairy, fruits and vegetables, and processed
foods) and origin (imports, particularly for dry
goods, displacing local production) (Crush, et
al., 2011; USDA, 2015; Masters, et al., 2016).
But there are many reasons to put these
historical roadmaps aside. In spite of the
unprecedented wealth expansion and other
benefits created by the first wave of structural
transformation, they also had significant
downsides. After a period of reduced inequality
in the mid-late 20th century, wealth inequality
and barriers in economic mobility have been
rising in developed economies for the past
several decades (Saez, 2008; Milanovic, 2014;
Piketty, 2014). The first wave of structural
development also built much of its wealth
through appalling social, economic, and
environmental exploitation. Slavery,
sweatshops, and colonial imperialism provided
cheap labor and primary inputs that unlocked
the capital needed for industrialization. The first
era of modernization saw the rise of farming
and environmental practices that led to
ecological disasters and greenhouse gas
emissions that have led to potentially
catastrophic and irreversible climate change,
the potential extinction of one in six species by
2100, and the potential extinction of humanity
as well (Urban, 2015; Ripple, et al., 2017;
Gutierrez, 2018) (Wallace-Wells, 2017).
But even if they wanted it, there are three
reasons the old pathway to development is
unavailable to currently developing countries:
1. The manufacturing ladder to development
is being replaced by services
Manufacturing was a critical part of early
structural transformations, driving
unprecedented increases in productivity and
(eventually) distributing those productivity
gains broadly. Manufacturing, particularly in its
earlier forms, absorbed large numbers of
unskilled labor, pulling farmers out of fields.
This labor dynamic was a key factor in
agricultural productivity growth. Shrinking labor
pools in agriculture stimulated agricultural
productivity through innovation to compensate
(Barrett, et al., 2017). The new ranks of
employees in cities became new markets,
further driving agricultural transformation to
meet growing demand (Temin, 1999; Rodrik,
2018; Barrett, et al., 2017). Manufacturing
Africa’s share of the global urban population
is expected to nearly double 2050
Figure 2. Share of manufacturing jobs in emerging market and developing economies vs. advanced economies
0.0
5.0
10.0
15.0
20.0
25.0
30.0
19
76
19
82
19
88
19
93
19
99
20
05
20
11
% A
ggre
gate
Em
plo
ymen
t
Emerging &Developing
Advanced
Source: World Bank Open Data
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intrinsically creates tradable goods—physical
commodities that could ship anywhere. In
contrast to non-tradable goods, like education,
healthcare, or retail services, the potential
markets for tradable goods is much larger, and
countries that contain commensurately more
room for potential growth (Rodrik, 2015).
Manufacturing also tended to encourage
growth trajectories that are more inclusive.
Manufacturing concentrated similar workers in
the same buildings, shop floors, and city
sectors, enabling the collective bargaining that
was historically a big driver of inclusive growth
(Mandel, 2017; Rodrik, 2018). This was
particularly true for women—their trade unions
became drivers for the suffrage movement and
a key force in opening the public sphere to
women (Eschner, 2017). Urban spaces built
around manufacturing tend to cater more to
worker needs in housing, public goods, and
other amenities (Gollin, et al., 2016). In cities
stimulated through nontradable sectors
(otherwise known as consumer cities, including
most African service sectors), spaces and
subsectors tend to cater to elite preferences,
and are associated with more slums, less public
goods, and greater inequality (ibid).
Unfortunately, manufacturing is an unlikely
pathway for currently developing countries
today. Productivity gains from technology and
globalization have largely eliminated the
manufacturing stepping-stone towards broad-
based development (Rodrik, 2015). Technology
has enabled startling productivity per worker
and globalization has integrated billions of
workers and firms into a global marketplace
with unprecedented competition and low prices
for manufactured goods (Alpert, 2013). As a
share of GDP, manufacturing has flattened or
declined across both developed and developing
economies, while agriculture continues to
contract in developing economies. Where the
share of the manufacturing labor for most
countries in the Organisation for Economic Co-
operation and Development (OECD) peaked at
or around 30 percent before its decline,
currently developing countries in Sub-Saharan
Africa (SSA) and South Asia’s manufacturing
labor peaked at less than half that, around 14
percent (see Figure 2) (IMF, 2018).
Globally, services are expanding to fill this
employment gap left by agriculture and
manufacturing (IMF, 2018). Much of this
expansion is in services with lower growth
prospects: construction and local commercial
trading, for example, comprise a large
percentage of service sector growth across
Africa, but these sectors have limits to scale—
they are highly location specific. A local
construction or informal trading firm in Accra,
for example, is unlikely to compete
internationally. These sectors are also less likely
to bring large numbers of workers together in
the same way as manufacturing, making
collective bargaining and job quality gains more
difficult.
There are, however, service subsectors that
have greater potential for exportable trade and
job creation for low- and moderately-skilled
workers that are showing promise, particularly
in Africa. Tourism, transportation, high value
horticulture, and ICT are key elements of
structural transformation across the continent
(Page, 2018).
2. Demographic change
For Africa in particular, it is not clear that the
current transformation pathway will create
sufficient job gains to keep up with population
growth. Africa stands out as the only continent
with a population forecasted to continue
growing by the end of the century (see Figure
3). This rapid growth has meant that, even in
the face of net urban migration and expanding
economic opportunities, the number of
extremely poor is still growing in absolute terms
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(Masters, et al., 2016). Over the past 30 years,
the total number of people living in extreme
poverty in Africa has still increased from 276
million to 389 million over the same period
(Barrett, et al., 2017).
3. Natural resource depletion and climate
change
The developing world is facing serious legacy
challenges largely driven by the first wave of
developers: natural resource depletion and
climate change. In 1961, there were 0.37 Ha of
arable land per person globally; by 2015 this
had shrunk to 0.194 Ha/person due to both
population growth and climate change issues
(World Bank, 2018).
Sixty percent of all land across SSA is at risk of
desertification (Benson, et al., 1997). The IMF
has estimated that for countries with average
temperatures of 25˚C or higher (including large
parts of SSA and South Asia), a 1˚C increase in
temperature will reduce per capita output by
1.5 percent (IMF, 2017). Climate change will
drive increased variability in weather,
temperatures, floods, and droughts
(Stephenson, et al., 2010). The particular
vulnerability of rain-fed crops—which comprise
the backbone of food security for the most poor
around the world—to shifting rainfall patterns
will continue to slow structural transformation
by wiping out assets and surplus foodstuffs
(Wheeler & Braun, 2013). Duku et al. estimate
that anywhere from 50 to 95 percent of
agroecological zones that currently reap two
rain-fed harvests per year will be reduced to
just one harvest by shortened or altered rain
patterns (Duku, et al., 2018). These burdens are
most acutely born by women. Women tend to
have less access to viable lands, and when land,
water, and other resource pressures increase,
are the first be displaced or have access
otherwise reduced (USAID, 2016).
HOW ARE LIVELIHOODS ADAPTING?
Becoming more diversified
People are responding to these challenges and
opportunities by diversifying their livelihood
strategies. This includes retaining subsistence
0.000
1 000 000.000
2 000 000.000
3 000 000.000
4 000 000.000
5 000 000.000
6 000 000.000
Africa Asia
Europe Latin America and the Caribbean
Northern America Oceania
Figure 3. Population forecasts by continent through 2100
Source: UN Population Division database
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agriculture, even in peri-urban and urban
settings (on smaller plots, or through land
rental). In urban Uganda, for example, the
lowest income quintile still derives 25 percent
of their livelihoods from staple crop production
(Djido & Shiferaw, 2018).
In rural areas, where agriculture dominates, the
growing reach of the cash economy has opened
up new options. In a meta-analysis of their
multi-country household economy analysis
datasets, the Food Economy Group found that,
even in rural areas, the cash economy—both
labor off-farm and cash food purchases as a
share of food sources—is growing. Across the
countries in the study, which included Burkina
Faso, Ethiopia, and Zimbabwe, the majority of
poorer households met their food security
needs from sources other than their own
production (Boudreau, 2013). This included
diversification within agricultural production to
include multiple crops for income and home
consumption, livestock as assets, and off-farm
wage labor. In Nigeria, Djido and Shiferaw
found that all income quintiles in rural and
urban areas earned a majority of their
livelihood through off-farm sources (Djido &
Shiferaw, 2018). In Ghana and Uganda, the
Mastercard Foundation studied a
nonrandomized sample of 127 youth and found
that they were engaged in between seven to 12
different livelihood strategies concurrently
(Williams, 2018). In part, this diversification
reflects the growing proximity of urban or peri-
urban markets in towns and secondary cities. As
these urban spaces grow, they creep further
into previously cut-off rural areas, making cash
cropping or off-farm employment options more
accessible (Vandercasteelen, et al., 2018).
Increasingly mobile
Many of the above-listed livelihood
opportunities—agricultural production, off-farm
work, rearing livestock—do not all exist in one
place. Migration, particularly temporary
movement between cities and rural areas, is a
common reality and a means of diversified
livelihood. In Bangladesh, a recent survey found
remittances from migrants in urban centers and
abroad were the largest source of rural
household income (Ahmed, et al., 2015).
Surveys of rural households in Mali, Nigeria,
Tanzania, and Ghana show that 50 to 65
percent of rural households have at least one
migrant sending back remittances (Awumbila,
2017). In many places, this predominantly male
mobility has led to increasing household
responsibilities for women, as well as increased
engagement in the rural employment sector.
While this can contribute to empowerment, it
also adds to women’s labor and drudgery
(Demetriades & Esplen, 2010). In parts of the
world with limited women’s rights to land, male
migration can make it difficult to retain
customary control over productive land when
men migrate (Laudazi, 2003). Climate change is
also increasing the frequency and range of
migration, particularly in arid and semi-arid
regions (Raleigh, et al., n.d.).
Remaining at persistent risk of
impoverishment
While the youth bulge in Africa holds
opportunities at the macroeconomic level, it
puts livelihoods at risk for individuals and
households. A USAID-funded study of three-
and four-wave household panel data in
Ethiopia, Uganda, and Bangladesh found that
smaller households were more likely to
experience sustained poverty escapes across all
cases; larger households were more likely to
return to poverty even after escaping at some
point (Diwakar, 2016). More broadly, women’s
economic empowerment is highly correlated
with lower birth rates (Upadhyay, et al., 2014).
As shocks from climate change increase in
frequency, they also pose increased risks to
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household assets and income sources
(Boudreau, 2013).
IMPLICATIONS FOR DEVELOPMENT PRACTICE
The risk is that the above challenges lead to a
future where emerging economies transform
either too slowly or in ways that will leaving
hundreds of millions of people without
pathways to escape poverty. Structural
transformation may bypass productive, tradable
service subsectors with high potential for
inclusive job creation. Instead, growth may
concentrate in capital intensive resource
exports and manufacturing, leading to jobless
(or at least, ‘job-light’) growth. Population
pressures and climate change will continue to
squeeze smallholder farmers, whose livelihoods
will grow increasingly more fragile, without
urban job growth to pull them out of poverty.
The economic development sector must
respond to these challenges by nudging
developing economies’ transformation
pathways in a direction that promotes
economic inclusion and productive livelihood
diversification.
Broadly, development practitioners need to
respond to these changes by accepting that
developing economies and societies are
becoming more complex, urbanized, and less
concentrated on subsistence agriculture. In the
face of the growing risks from climate change,
the world’s poor will continue to adapt through
mobility and diversification. Often, these
adaptation strategies involve tradeoffs between
risk and security, and short-term and long-term
objectives. Not all diversification strategies, for
example, will build resilience. Our goal should
be to catalyze capacity building, the provision of
services, and capital, as well as other support
that will help households, market, and food
systems build resilience and incomes. Potential
approaches to this include:
At project planning:
Target services and agro-industries that mimic
the structural transformation effects of
manufacturing
ICT, tourism, and transport are fast growing
components of the service sector that mimic
several of the structural transformation effects
of manufacturing in past growth cycles.
Combined with labor intensive agro-industries
like horticulture, they are proving to be highly
tradable, generate significant productivity gains
per worker, and (with the exception of ICT),
have the capacity to absorb lots of reserve labor
from farm fields (Page, 2018).
Practitioners can strengthen these sectors
through:
• Expanding the focus from value chain to
market system development activities to
strengthen supporting sectors like
transportation.
• Strategically coordinating value chain
interventions with infrastructure
investments: As new roads and high-speed
internet come online, they can make high
value horticulture, transport, ICT, and
tourism sectors significantly more
competitive. Identify where these
investments are completing, and target
support to these sectors in the geographies.
• In labor intensive sectors, focus on
improving job quality and security as well as
the number of jobs. 2
• 2
2For more information on integrating job quality and security into
project design and implementation, see this USAID LEO Brief,
“The Importance of Wage Labor for achieving agricultural market development objectives.”
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Better integrate urban and rural livelihood
support activities
As urban and rural spaces increasingly blur, and
ICT and road infrastructure continues to
improve, there is an opportunity to innovate
new programming paradigms that engage this
more complex reality and do away with strictly
‘rural’ or ‘urban’ conceptions of beneficiaries.
Activities should use systems-based analytical
and implementation approaches to understand
how rural and urban food systems interact.
For example, in contexts where migration and
remittance geographies are well known, pair
agricultural livelihood development activities in
rural areas with urban market and
entrepreneurship development activities that
would leverage social ties between urban youth
and their home villages to strengthen food
system channels.
Prioritize regional markets for export
opportunities
Particularly in Africa, regional trade has grown
substantially over the past two decades across
all major tradable sectors (Hallward-Driemeier
& Nayyar, 2018). Particularly as regional
markets become more integrated, and global
markets increase quality, food safety, and
traceability requirements, the relative proximity
and similarities in consumer tastes and quality
requirements in regional markets can act as a
useful stepping stone to global market
competitiveness. This means:
• Prioritize regional export markets in value
chain and market system opportunity
analyses.
• Support regional export facilitation services,
including cross-border trade
groups/associations and intra-regional
trade policy harmonization.
During implementation:
Strengthening resilience means treating risk
mitigation and growth as a dual mandate for
development
Recognize the value of risk management, even
if it may come at the expense of income. Too
often, development projects focus on
encouraging risk-taking by farmers and
entrepreneurs. We need to recognize that,
particularly in the context of the challenges
we’ve listed above, development institutions
should see their goal as supporting market
systems by both protecting households from
the worst downsides of shocks and stressors in
addition to encouraging them to take risks to
potentially increase incomes.
This means:
• Before recommending technologies for
adoption, look beyond just the potential
yield increases from the technology in good
production years. Understand what would
happen if the crop failed, as well.
• Prioritize crops, technologies, and practices
that are less resource intensive for farmers
to adopt.
• Encourage productive diversification. Some
diversification strategies are better than
others at building resilience, and there is a
role for development projects to help
households optimize their livelihood
strategy mix to diversify risk and potential
returns. For example, agricultural programs
should not automatically encourage
specialization in specific crops if time and
money would be better spent in other
activities that could complement
agricultural activities. Research under
USAID’s Leveraging Economic Opportunities
(LEO) activity, for example, found that off-
farm employment was a critical component
of households escaping poverty and not
backsliding into it (Diwakar, 2016).
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Deploy different enterprise development
support programs for firms with high growth
and formality potential as well as those that
are likely to remain small, informal, and part
of a larger livelihood strategy
Several studies have highlighted that there are
two forms of entrepreneurs: those voluntarily
chasing business opportunities with a mindset
and resources to pursue growth (opportunistic
entrepreneurs), and those engaged in business
out of necessity (subsistence entrepreneurs).
The subsistence entrepreneur’s business is
often part of a diversified livelihood strategy
and unlikely to grow past one or two employees
(Amin, 2010; Schoar, 2010). The needs and
development impact of these two types of
entrepreneurs are different and should be
engaged with differently.
Recognizing that the majority of opportunistic
entrepreneurs’ impact tends to come from the
highest performers, their support should be
deeper than it is wide, with business
accelerators, service providers, grants, and
capital directed towards firms demonstrating
success. It should catalyze further specialization
where necessary. Ensuring these approaches
are sensitive to women’s different needs will be
important—research from the Global
Accelerator Learning Initiative (GALI) found that
cohorts of accelerator entrepreneurs that
focused on women and minority applicants
tended to have better outcomes across the
whole cohort (GALI, 2018). This means:
• Where there are workforce capacity
challenges for these firms, it will likely be
more efficient to support firms to develop
their own in-house specialized training for
new employees than to deploy large-scale
workforce training for these firms, which
can quickly overshoot labor demand in
specialized sectors (Fox and Kaul, 2017).
• Support to subsistence entrepreneurs
should put more emphasis on developing
skills that are broadly transferable across
sectors and roles (as employees and
entrepreneurs) and enabling adaptation
and productivity improvements across the
full livelihood portfolio. This would include
support in soft-skill development like critical
thinking, problem solving, and time
management (Fox and Kaul, 2017), as well
as basic business skills. While subsistence
entrepreneurs may be less likely to create
the next Google, a significant number of
them will have no formal employment
alternatives. Particularly in the context of
Africa’s youth bulge, even extraordinary job
growth in the formal sector will only
provide employment for a fraction of
today’s youth (Fox and Kaul, 2017). Helping
them improve productivity and resilience
across informal and supplemental livelihood
strategies will be critical to helping them
profit from structural transformation.
Support financial innovation to bridge the
formal and informal
Even in the context of high rates of growth, the
informal sector will remain a core livelihood
strategy for a majority of the world’s poor for
decades to come (Fox and Kaul, 2017). Yet
formal and informal economies are not distinct
but tend to blur together. Formal firms
consistently rely on less formal firms for key
inputs (such as textiles) and end market services
(such as street hawkers). Development
practitioners should:
• Leverage these formal/informal
connections to extend financial coverage in
value chains to include informal supply and
distribution nodes. ICT-based transaction
platforms and mobile money are generating
data for historically opaque informal actors
and are increasingly being used for credit
scoring and financial access (Cheney, 2016).
It will be critical to support innovations to
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10
ensure they address women’s needs equally
in these regards.
• Continue to build on promising innovations
in financial technology and products to
leverage the formal-informal continuum
and build financial access for informal firms.
Blended finance schemes can layer first-loss
philanthropic and development finance
with private and commercial capital to
extend financial coverage in value chains to
include informal supply and distribution
nodes as well as formal firms.
CONCLUSION
Today’s developing economies are transforming
in new ways, forging new pathways towards
structural transformation. While the world has
seen remarkable advances in poverty reduction
and middle-class growth, several barriers,
including the decline of manufacturing,
population growth in Africa, and environmental
challenges increase the risk that the current
wave of structural transformation leaves
hundreds of millions of the world’s poor behind,
stuck in a poverty trap driven by low
productivity farming and fragile informal
markets.
Our job as development practitioners is to
update our practice to these ever-changing
challenges and opportunities. We need to
design activities that engage households across
the full range of their livelihoods, adapting to
opportunities to strengthen productive
diversification to build household resilience and
prevent backsliding into poverty. This means
catalyzing innovation in new approaches to
entrepreneurship, workforce development, and
business development and finance that can
spread resilience and livelihood growth further.
To expand on practical ways to respond to
these trends, this paper will be followed by
several case studies of ACDI/VOCA projects
successfully leveraging these dynamics to drive
inclusive growth and poverty alleviation.
Founded in 1963, ACDI/VOCA is an international development nonprofit organization. We have fostered broad-based economic growth in 146 countries. We empower people to succeed in the global economy by building inclusive, resilient market systems. Learn more at www.acdivoca.org.
Lead Writer: Daniel White | [email protected]
JULY 2018
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