Industrial Policy and Development : The Political Economy of Capabilities Accumulation Paperback / softback
Edited by Mario (Professor of Economics, University of Venice, and Economic Affairs Officer, ECLAC, Un Cimoli, Giovanni (Professor of Economics, Scuola Superiore Sant'Anna, Pisa) Dosi, Joseph E. (University Professor, Columbia University) Stiglitz
Part of the Initiative for Policy Dialogue series
In the 1990s, development policy advocated by international financial institutions was influenced by Washington Consensus thinking.
This strategy, based largely on liberalization, privatization, and price-flexibility, downplayed, if not disregarded, the role of government in steering the processes of technological learning and economic growth.
With the exception of the Far East, many developing countries adopted the view that industrial policy resulted ininefficiency and poor economic growth. Ample historical evidence shows that industrial policy does work, when the right technologies and industries are supported and when appropriate combinations of policy measures are implemented. This book provides an in-depth exploration of which industrial policies have been successful, the trade-offs associated with these microeconomic approaches to growth and development, and the opportunities and constraints associated with the current organization of international economicrelations.
- Format: Paperback / softback
- Pages: 596 pages, numerous tables and figures
- Publisher: Oxford University Press
- Publication Date: 24/07/2009
- Category: Development economics
- ISBN: 9780199235278