International competition, accelerating technological change and shifting societal concerns are important drivers of structural change, both within and across firms, industries and regions. As well as bringing undoubted opportunities, structural adjustment raises acute challenges. This must be acknowledged in making the case for open markets. This brochure aims to identify, for both developed and developing countries, the requirements for successful trade-related structural adjustment via the reallocation of labour and capital to more efficient uses, while limiting adjustment costs for individuals, communities and society as a whole. It draws on a longer study incorporating detailed sectoral case studies...
