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India's Atypical Structural Transformation
A s countries develop, they undergo a structural transformation. Structural transformation is the reallocation of economic activity across the broad sectors of agriculture, manufacturing, and services that accompanies the process of modern economic growth. Long-term evidence from developed countries indicates two stages of structural transformation: labor moves (i) out of agriculture into manufacturing and services and then (ii) out of both agriculture and manufacturing into services. Figure 1doi:10.20955/es.2015.23 fatcat:lptqodobr5ge3iuljf5a6agxsq