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Strategic policy revisited: The origins of mass production in the motor industry of Argentina, Korea and Spain, 1945-87

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  • Jordi Catalan

Abstract

During the postwar 'golden age' of economic growth, Argentina, Korea and Spain promoted the development of their motor industries by restricting imports, licensing investment, imposing a high level of local sourcing for parts, and supporting their own national champions. These strategic policies took advantage of economies of scale, achieving significant increases in output, and creating dynamic competitive advantage. Sudden liberalisation or the high volatility of the macroeconomic environment could jeopardise the process of structural change. Gradual evolution of policy-making and the cumulative learning of capabilities by the national champions were crucial for long-term success. The present research supports both List's classical defence of protection for infant industries in medium-large economies and more recent claims in favour of strategic policy.

Suggested Citation

  • Jordi Catalan, 2010. "Strategic policy revisited: The origins of mass production in the motor industry of Argentina, Korea and Spain, 1945-87," Business History, Taylor & Francis Journals, vol. 52(2), pages 207-230.
  • Handle: RePEc:taf:bushst:v:52:y:2010:i:2:p:207-230 DOI: 10.1080/00076791003611863
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    References listed on IDEAS

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    Cited by:

    1. Truett, Lila J. & Truett, Dale B., 2014. "The South Korean auto industry's path to maturity," International Review of Economics & Finance, Elsevier, vol. 31(C), pages 86-94.
    2. Tomas Fernandez-de-Sevilla, 2011. "Responses to a crisis: FASA-Renault in Spain during the 1970s," Working Papers in Economics 261, Universitat de Barcelona. Espai de Recerca en Economia.

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