How does Ricardian specialization affect economic development in relatively advanced countries? Keld Laursen, inspired by the myriad of newly-emergent neoclassical/new industrial economics contributions, makes a detailed study of the role of specialization and structural change in advanced economies. The three key questions addressed in this work are: do countries converge or diverge in terms of their specialization patterns over time?; can the role of technology explain the direction of national trade specialization?; and what are the implications of international specialization patterns (and their changes) for economic growth?