Innovation in services: the potential to contribute to structural economic transformation?
Year: 2025
Type: article
Abstract: Contrary to the view that diversification and structural change only result from industrialisation, there is growing consensus that the services sector can contribute to economic transformation in emerging economies. This is potentially good news for South Africa given the growth of the services sector to 65% of GDP by 2014, and the proliferation of Industry 4.0.This Research Brief uses data from the Business Innovation Survey 2010-2012 to illuminate the character of innovation activities* in two key services sub-sectors: wholesale and retail trade (WRT), and finance, real estate and business services (FI). These sub-sectors are now central to the South African economy in terms of their contribution to GDP growth, and their advancement is therefore a key consideration for economists, lobbyists, business leaders, and policy makers alike.
DOI: 10.14749/30775451
Author: Human Sciences Research Council
Language: English
Topic: Firm Innovation and Growth
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
Funder: Human Sciences Research Council
OpenAlex ID: W7108480608
FWCI:
Cites:
Cited by:
Related to: