Developing Economies with Industrial Policy: Towards a Toolbox for Economic Growth. With Case Studies of Jordan and Egypt
During the past two decades, the “Washington Consensus” has been the dominant recipe for unleashing economic growth in developing countries. In view of the strong criticism mounted against it, it seems to have lost prominence recently. The success of the East Asian newly industrialized economies and recently of China is often seen as an alternative way towards economic development. However, most instruments stipulated in the Washington Consensus can be reconciled with successful measures employed by industrialized or fastly industrializing Asian economies. Most likely, the stability and market orientation of the Washington Consensus as a recommendation for developing countries is not wrong in itself but rather incomplete. In order to give developing countries a perspective for durable and preferably inclusive growth, it must be complemented by a modern and market-oriented industrial policy aimed at upgrading the economy's competitiveness. Such a “newer” industrial policy offers a host of instruments that can enhance economic growth in a generally favorable macroeconomic framework that can be achieved through the Washington Consensus. This article undertakes to integrate industrial policy in a comprehensive toolbox for economic growth and takes Jordan and Egypt as examples for how industrial policy measures are employed in practice.
|Date of creation:||2013|
|Date of revision:||2013|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Dohse, Dirk, 2000. "Technology policy and the regions -- the case of the BioRegio contest," Research Policy, Elsevier, vol. 29(9), pages 1111-1133, December.
- Chaponniere, Jean-Raphael & Cling, Jean-Pierre & Zhou, Bin, 2008.
"Vietnam Following in China?s Footsteps: The Third Wave of Emerging Asian Economies,"
Working Paper Series
RP2008/84, World Institute for Development Economic Research (UNU-WIDER).
- Zhou, Bin & Cling, Jean-Pierre & Chaponnière, Jean-Raphael, 2010. "Vietnam Following in China’s Footsteps : The Third Wave of Emerging Asian Economies," Economics Papers from University Paris Dauphine 123456789/10802, Paris Dauphine University.
- Tri Widodo, 2008. "Dynamic changes in comparative advantage: Japan “flying geese” model and its implications for China," Journal of Chinese Economic and Foreign Trade Studies, Emerald Group Publishing, vol. 1(3), pages 200-213, December.
- Karl Aiginger, 2007. "Industrial Policy: A Dying Breed or A Re-emerging Phoenix," Journal of Industry, Competition and Trade, Springer, vol. 7(3), pages 297-323, December.
- Dirk Dohse, 2007. "Cluster-Based Technology Policy—The German Experience," Industry and Innovation, Taylor & Francis Journals, vol. 14(1), pages 69-94.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:43857. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.