The effect of services needs to be updated in economic activity data to avoid bad decisions

Published: July 31, 2019, 9:08 a.m.

b'The idea that manufacturing is superior to services for powering a country\\u2019s economy has long been taken as a given.\\n\\nThat\\u2019s why some economists have issued warnings about developing countries experiencing what they call premature deindustrialization. In those countries, they see service activity overtaking manufacturing before a proper manufacturing economy has taken hold. \\n\\nBut what if the way services are measured no longer reflects modern production? And what if services don\\u2019t deserve to be relegated to a lesser form of production anyway? \\n\\nRead the transcript\\nhttps://bit.ly/2KeCFYz\\n\\nRead the working paper\\nhttps://bit.ly/2OrCE8R\\n\\nAbout the authors\\nValerie Mercer-Blackman is a senior economist at the Asian Development Bank.\\nChristine Ablaza is a doctoral student at the University of Queensland in Brisbane.\\n\\nKnow more about ADBI\\u2019s work\\nhttps://bit.ly/2YuWWhH\\nhttps://bit.ly/2YufPRH'