In this volume, world-renowned economists and policymakers write about industrial policy, which is being recognized anew as a linchpin for the economics of development. They show that developing countries that have undertaken a wide variety of industrial policies have been the most successful. In focusing on Africa, which has a potentially great producer and consumer base for industry, they have chosen a continent that provides an especially clear example of why this refreshed emphasis on industrial policy is so important.

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.

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.

In this volume, world-renowned economists and policymakers write about industrial policy, which is being recognized anew as a linchpin for the economics of development. They show that developing countries that have undertaken a wide variety of industrial policies have been the most successful. In focusing on Africa, which has a potentially great producer and consumer base for industry, they have chosen a continent that provides an especially clear example of why this refreshed emphasis on industrial policy is so important.