Diversification through the Application of the Co-evolutionary Framework: Korea and Viet Nam

doi:https://doi.org/10.1596/41312

Publication:
Diversification through the Application of the Co-evolutionary Framework: Korea and Viet Nam

dc.contributor.author	World Bank
dc.date.accessioned	2024-03-28T15:24:53Z
dc.date.available	2024-03-28T15:24:53Z
dc.date.issued	2024-03-28
dc.description.abstract	This research examines the diversification process by conceptualizing a co-evolutionary framework linking production and technology. The study applies the framework to retrospectively explain Korea’s successful diversification path and to Viet Nam to identify how the country could further diversify into complex and value-added products. The authors apply relatedness analysis leveraging patent and trade data and present four different types of diversification patterns, namely unrelated diversification, production-based diversification, technology-based diversification, and complex diversification. Developed countries including Korea shifted toward technology-based or complex diversification strategies as their economies developed. Using a simulated scenario approach, the report outlines potential future trajectories wherein Viet Nam attains technological capabilities. The result shows that Viet Nam can diversify into 233 products if it accumulates capabilities in the 12 identified technologies. The report concludes with policy lessons that could inform policy makers in Viet Nam as well as other developing economies. Namely, that the country would need to invest more intensively in technology and capabilities upgrading to diversify into new complex products and evolve its diversification strategy alongside its economic growth and capability building process.	en
dc.identifier	http://documents.worldbank.org/curated/en/099032124063537994/P1770151f0870f0a21bff71b52c2fd5976f
dc.identifier.doi	10.1596/41312
dc.identifier.uri	https://hdl.handle.net/10986/41312
dc.language	English
dc.language.iso	en_US
dc.publisher	Washington, DC: World Bank
dc.rights	CC BY-NC 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	https://creativecommons.org/licenses/by-nc/3.0/igo
dc.subject	DIVERSIFICATION
dc.subject	PRINCIPLE OF RELATEDNESS
dc.subject	TECHNOLOGY-BASED
dc.subject	CO-EVOLUTIONARY FRAMEWORK
dc.title	Diversification through the Application of the Co-evolutionary Framework	en
dc.title.subtitle	Korea and Viet Nam	en
dc.type	Report
dspace.entity.type	Publication
okr.crossref.title	Diversification through the Application of the Co-evolutionary Framework: Korea and Viet Nam
okr.date.disclosure	2024-03-28
okr.date.lastmodified	2024-03-27T00:00:00Z	en
okr.doctype	Economic & Sector Work
okr.docurl	http://documents.worldbank.org/curated/en/099032124063537994/P1770151f0870f0a21bff71b52c2fd5976f
okr.guid	099032124063537994
okr.identifier.docmid	P177015-f0870f8f-c278-40a2-bff7-b52c2fd5976f
okr.identifier.doi	https://doi.org/10.1596/41312
okr.identifier.externaldocumentum	34286113
okr.identifier.internaldocumentum	34286113
okr.identifier.report	188491
okr.import.id	3668
okr.imported	true	en
okr.language.supported	en
okr.pdfurl	http://documents.worldbank.org/curated/en/099032124063537994/pdf/P1770151f0870f0a21bff71b52c2fd5976f.pdf	en
okr.region.administrative	East Asia and Pacific
okr.region.administrative	South Asia
okr.region.country	Korea, Republic of
okr.region.country	Viet Nam
okr.region.geographical	Southeast Asia
okr.sector	Other Industry, Trade and Services
okr.theme	Inclusive Growth,Entrepreneurship,Job Creation,ICT,Economic Policy,ICT Solutions,Economic Growth and Planning,Enterprise Development,Private Sector Development,Innovation and Technology Policy,Regulation and Competition Policy,MSME Development,Jobs,Business Enabling Environment
okr.topic	Macroeconomics and Economic Growth::Economic Growth
okr.topic	Information and Communication Technologies::ICT Policy and Strategies
okr.unit	EFI-EAP-FCI-Finance-1 (EEAF1)