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Economic Policy Choices—Savings, Investment, and Industrialization

In: Globalization and Development

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  • Anthony Elson

Abstract

This chapter examines the role of economic policy choices in determining the very divergent patterns of industrialization and export performance that can be observed between East Asia and Latin America since the middle of the past century. Obviously, these patterns were significantly affected by differences in the macroeconomic policy framework of the two regions, which had important implications for savings and investment as a basis for promoting industrialization. However, in addition, industrial policy played an important role in determining East Asia’s earlier orientation toward export-oriented industrialization and Latin America’s strong attachment to import-substitution industrialization.

Suggested Citation

  • Anthony Elson, 2013. "Economic Policy Choices—Savings, Investment, and Industrialization," Palgrave Macmillan Books, in: Globalization and Development, chapter 0, pages 95-121, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-31639-4_6
    DOI: 10.1057/9781137316394_6
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