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Books > Business & Economics > Industry & industrial studies
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Industrial Policy in an Era of Globalization - Lessons from Asia (Paperback)
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Industrial Policy in an Era of Globalization - Lessons from Asia (Paperback)
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Globalization reigns supreme as a description of recent economic
transformation-and it carries many meanings. In the policy realm,
the orthodox terms of engagement have been enshrined in the
"Washington consensus." But disappointing results in Latin America
and transitional economies-plus the Asian financial crisis-have
shaken the faith in Washington and elsewhere. One response has been
to hark back to the more statist policies that the consensus
marginalized. In this regard, Japan, Korea, and Taiwan are promoted
as the poster nations that have derived great benefits from
increasing integration with the international economy, without
surrendering national autonomy in the economic or cultural spheres,
effectively beating the West at its own game. The fundamental
questions addressed in this monograph are whether industrial policy
was indeed a major source of growth in these three economies, and
if so, can it be replicated under current institutional
arrangements, and if so, is it worth replicating, or, would
developing countries today be better off embracing the suitably
refined orthodoxy?
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