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Industrial Policy and Development - The Political Economy of Capabilities Accumulation (Hardcover, New)
Loot Price: R4,849
Discovery Miles 48 490
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Industrial Policy and Development - The Political Economy of Capabilities Accumulation (Hardcover, New)
Series: Initiative for Policy Dialogue
Expected to ship within 10 - 15 working days
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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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