Industrial Policy and Development: The Political Economy of Capabilities Accumulation

Industrial Policy and Development: The Political Economy of Capabilities Accumulation

Hardback Initiative for Policy Dialogue Series C

Edited by Giovanni Dosi, Edited by Mario Cimoli, Edited by Joseph E. Stiglitz

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  • Publisher: Oxford University Press
  • Format: Hardback | 596 pages
  • Dimensions: 158mm x 236mm x 40mm | 1,039g
  • Publication date: 30 November 2009
  • Publication City/Country: Oxford
  • ISBN 10: 0199235260
  • ISBN 13: 9780199235261
  • Edition statement: New.
  • Illustrations note: numerous tables and figures
  • Sales rank: 1,519,370

Product description

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 in inefficiency 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 economic relations.

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Author information

Joseph E. Stiglitz was awarded the Nobel Prize in economics in 2001 and is University Professor at Columbia University where he founded the Initiative for Policy Dialogue in 2000. He was Chair of President Bill Clinton's Council of Economic Advisors from 1995-97 and Chief Economist and Senior Vice-President of the World Bank from 1997-2000. He is also chair of the University of Manchester's Brooks World Poverty Institute and is a member of the Pontifical Academy of Social Sciences. His best known recent publications include 'Making Globalization Work' (2006), 'Fair Trade for All' (2005), 'Globalization and its Discontents' (2002) and 'The Roaring Nineties' (2003).

Table of contents

PREFACE ; 1. The Political Economy of Capabilities Accumulation: The Past and Future of Policies for Industrial Development ; GENERAL INTRODUCTION ; 2. Institutions and Policies Shaping Industrial Development: An Introductory Note ; 3. Technological Learning, Policy Regimes and Growth: The Long Term Patterns and Some Specificities of a 'Globalized' Economy ; INDUSTRIAL POLICIES IN AN HISTORICAL PERSPECTIVE ; 4. Emulation v. Comparative Advantage: Competing and Complementary Principles in the History of Economic Policy ; 5. Industrial Policies in Developing Countries: History and Perspectives ; 6. Industrial Tariffs, International Trade And Development ; 7. The (Slow) Return of Industrial Policies in Latin America and the Caribbean ; NATIONAL AND REGIONAL EXPERIENCES ; 8. Flying Geese and Waddling Ducks: the Different Capabilities of East Asia and Latin America to 'Demand-Adapt' and 'Supply-Upgrade' their Export Productive Capacity ; 9. Microeconomic Evolution in High Uncertainty Contexts: The Manufacturing Sector in Argentina ; 10. The Impact of Public Policies in Brazil Along the Path from Semi-Stagnation to Growth in a Sino-Centric Market ; 11. The Past, Present and Future of Industrial Policy in India: Adapting to the Changing Domestic and International Environment ; 12. Growth and Development in China and India: The Role of Industrial and Innovation Policy in Rapid Catch-up ; 13. The Political Economy of Industrial Policy in Asia and Latin America ; 14. The Roles of Research at Universities and Public Labs in Economic Catch-up ; 15. Nationality of Firm Ownership in Developing Countries: Who Should Crowd Out Whom in Imperfect Markets? ; 16. A Question of Trust: Historical Lessons for Current Development ; 17. Competition Policy and Industrial Development ; 18. Latecomer Entrepreneurship: a Policy Perspective ; 19. Intellectual Property and Industrial Development: A Critical Assessment ; CONCLUSION ; 20. The Future of Industrial Policies in the New Millennium: Toward a Knowledge-centered Development Agenda