In the wake of the global financial crisis, there is a new impetus
for industrial policy. In Europe and the United States, where the
crisis emphasized that markets are by themselves imperfect,
industrial policy has re-entered the dialogue about restoring
growth. And in emerging economies especially, policymakers have
taken a keen interest in the various ways smart industrial policy
can help sustain growth and open up new possibilities for
employment creation. In this volume, world-renowned economists and
policymakers write about industrial policy's rejuvenation,
particularly in a development context. Through discussions of
theory and case studies, the volume provides the broad context for
its companion, New Thinking on Industrial Policy: Implications for
Africa.
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