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Industrial policy in East Asia - lessons for Europe


Author Info

  • Chang, Ha-Joon

    (Political Economy of Development at the Faculty of Economics of the University of Cambridge)


This paper critically examines the role of industrial policy in the economic development of East Asian countries with a view to drawing lessons for other countries, especially European ones. It describes the evolution of industrial policies in Japan, Korea, Taiwan, and Singapore and evaluates the East Asian industrial policy experience -in general and in relation to the East Asian miracle, the 1997 financial crisis, and the Japanese stagnation since the 1990s. In drawing lessons for other countries, the paper discusses the transferability of the "East Asian model" - or any other economic model - to other countries and highlights the determinants of industrial policy successes and failures. A key conclusion is that there is scope for successful industrial policy even in countries that have reached the technological frontier and want to push it further.

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Bibliographic Info

Paper provided by European Investment Bank, Economics Department in its series EIB Papers with number 11/2006.

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Length: 27 pages
Date of creation: 26 Jun 2006
Date of revision:
Handle: RePEc:ris:eibpap:2006_011

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Related research

Keywords: Industrial policy; History; Asia;

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Cited by:
  1. Gokhan Yilmaz, 2011. "Resurgence of Selective Industrial Policy: What Turkey Needs," Working Papers 2011/3, Turkish Economic Association.
  2. Karp, Larry & Stevenson, Megan, 2012. "Green Industrial Policy: Trade and Theory," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt5qc631q9, Department of Agricultural & Resource Economics, UC Berkeley.
  3. David Bailey & Helena Lenihan & Ajit Singh, 2009. "Lessons for African Economies from Irish and East Asian Industrial Policy," Journal of Industry, Competition and Trade, Springer, vol. 9(4), pages 357-382, December.
  4. Pietro Masina, 2012. "Vietnam tra Flying Geese e middle-income trap: le sfide della politica industriale per una nuova tigre dell’Asia," Working Papers 1210, c.MET-05 - Centro interuniversitario di Economia Applicata alle Politiche per L'industria, lo Sviluppo locale e l'Internazionalizzazione.
  5. Harald Zschiedrich, 2006. "Internationale Produktionsverlagerungen im Spannungsfeld von betriebs- und volkswirtschaftlichen Anforderungen," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 32(4), pages 443-470.
  6. Veerayooth Kanchoochat, 2014. "Coalition Politics and Reform Dynamics in Thailand," GRIPS Discussion Papers 13-26, National Graduate Institute for Policy Studies.


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