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The Return of the Policy That Shall Not Be Named
Principles of Industrial Policy

by Reda Cherif and Fuad Hasanov

Series:Working Paper No. 19/74
ISBN 9781498305402
Code: #WPIEA2019074

Publication year: 2019

Cdn: $27.00; US: $25.00
Paperback
Language: English
79 pages
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Industrial policy is tainted with bad reputation among policymakers and academics and is often viewed as the road to perdition for developing economies. Yet the success of the Asian Miracles with industrial policy stands as an uncomfortable story that many ignore or claim it cannot be replicated. Using a theory and empirical evidence, we argue that one can learn more from miracles than failures. We suggest three key principles behind their success: (i) the support of domestic producers in sophisticated industries, beyond the initial comparative advantage; (ii) export orientation; and (iii) the pursuit of fierce competition with strict accountability.
The Return of the Policy That Shall Not Be Named
Cdn: $27.00; US: $25.00
International Monetary Fund (IMF) BookID: 124753 Added: 2019.4.6