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On the importance of openness for industrial policy design in developing countries

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Author Info

  • Kjetil Bjorvatn

    ()
    (Norwegian School of Economics and Business Administration)

  • Nicola D. Coniglio

    ()
    (University of Bari)

Abstract

Should industrial policy be targeted to a few sectors or be more broad based and therefore more neutral? Our theoretical analysis demonstrates that access to foreign markets is key to answering this question. We show that in a less open economy, industrial policy should be targeted, while in a more open economy, broad based policies are likely to be more effective. One implication of this results is that deregulation is likely to be more successful in a relatively open economy than in a more closed economy. Indeed, deregulation with limited foreign market access may lead to deindustrialization. We provide empirical results that support these predictions.

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Bibliographic Info

Paper provided by Dipartimento di Scienze Economiche e Metodi Matematici - Università di Bari in its series series with number 0014.

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Length: 769
Date of creation: Feb 2007
Date of revision: Feb 2007
Handle: RePEc:bai:series:wp0014

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Related research

Keywords: Industrialization; policy design; policy reform; economic growth; openess;

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References

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  1. Bruce Greenwald & Joseph E. Stiglitz, 2006. "Helping Infant Economies Grow: Foundations of Trade Policies for Developing Countries," American Economic Review, American Economic Association, vol. 96(2), pages 141-146, May.
  2. Dani Rodrik, 1994. "Getting Interventions Right: How South Korea and Taiwan Grew Rich," NBER Working Papers 4964, National Bureau of Economic Research, Inc.
  3. Ross Levine, 1990. "Financial structure and economic development," International Finance Discussion Papers 381, Board of Governors of the Federal Reserve System (U.S.).
  4. Marco Da Rin & Thomas Hellmann, 2001. "Banks as Catalysts for Industrialization," William Davidson Institute Working Papers Series 443, William Davidson Institute at the University of Michigan.
  5. Howard Pack & Kamal Saggi, 2006. "Is There a Case for Industrial Policy? A Critical Survey," World Bank Research Observer, World Bank Group, vol. 21(2), pages 267-297.
  6. Ades, Alberto & Di Tella, Rafael, 1997. "National Champions and Corruption: Some Unpleasant Interventionist Arithmetic," Economic Journal, Royal Economic Society, vol. 107(443), pages 1023-42, July.
  7. Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1988. "Industrialization and the Big Push," NBER Working Papers 2708, National Bureau of Economic Research, Inc.
  8. Sachs, Jeffrey D & Warner, Andrew M, 1997. "Sources of Slow Growth in African Economies," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 6(3), pages 335-76, October.
  9. Kjetil Bjorvatn & Nicola D. Coniglio, 2006. "Policy Design and Rent Seeking: Targeted versus Broad Based Intervention," Review of Development Economics, Wiley Blackwell, vol. 10(4), pages 577-585, November.
  10. Pack, Howard & Saggi, Kamal, 2006. "The case for industrial policy : a critical survey," Policy Research Working Paper Series 3839, The World Bank.
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