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Industrial Policy and Growth

  • Helen Shapiro
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    The paper highlights how the rationales and instruments of industrial policy have changed since the 1960s. It finds that theories of industrialization have come full circle, as many of the assumptions behind the market failure paradigm have made a comeback. The policy implications of these theories, however, have not been similarly resurrected. It makes an explicit comparison between the strategies of East Asia and Latin America, and reviews the explanations for their divergent performance. It identifies a “back to the future” quality of Latin America’s situation, pointing to the region’s balance of payments constraint and dependence on commodity-like industrial products.

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    File URL: http://www.un.org/esa/desa/papers/2007/wp53_2007.pdf
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    Paper provided by United Nations, Department of Economics and Social Affairs in its series Working Papers with number 53.

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    Length: 17 pages
    Date of creation: Aug 2007
    Date of revision:
    Handle: RePEc:une:wpaper:53
    Contact details of provider: Web page: http://www.un.org/en/development/desa/working-papers.html
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    1. Rodrik, Dani, 2004. "Industrial Policy for the Twenty-First Century," CEPR Discussion Papers 4767, C.E.P.R. Discussion Papers.
    2. Krueger, Anne O, 1974. "The Political Economy of the Rent-Seeking Society," American Economic Review, American Economic Association, vol. 64(3), pages 291-303, June.
    3. Antonio Ciccone & Kiminori Matsuyama, 1993. "Start-up costs and pecuniary externalities as barriers to economic development," Discussion Paper / Institute for Empirical Macroeconomics 83, Federal Reserve Bank of Minneapolis.
    4. Daron Acemoglu & Simon Johnson & James A. Robinson, 2000. "The Colonial Origins of Comparative Development: An Empirical Investigation," NBER Working Papers 7771, National Bureau of Economic Research, Inc.
    5. Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1988. "Industrialization and the Big Push," NBER Working Papers 2708, National Bureau of Economic Research, Inc.
    6. Helen Shapiro, 2003. "Bringing the firm back in," Chapters, in: Development Economics and Structuralist Macroeconomics, chapter 13 Edward Elgar Publishing.
    7. Rodrik, Rani, 1995. "Trade and industrial policy reform," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 3, chapter 45, pages 2925-2982 Elsevier.
    8. Henry J. Bruton, 1998. "A Reconsideration of Import Substitution," Journal of Economic Literature, American Economic Association, vol. 36(2), pages 903-936, June.
    9. repec:idb:brikps:8551 is not listed on IDEAS
    10. Shapiro, Helen & Taylor, Lance, 1990. "The state and industrial strategy," World Development, Elsevier, vol. 18(6), pages 861-878, June.
    11. de Fontenay, Catherine C., 2004. "The dual role of market power in the Big Push: from evidence to theory," Journal of Development Economics, Elsevier, vol. 75(1), pages 221-238, October.
    12. Sanjaya Lall, 2013. "Reinventing Industrial Strategy: The Role Of Government Policy In Building Industrial Competitiveness," Annals of Economics and Finance, Society for AEF, vol. 14(2), pages 785-829, November.
    13. Marcelo de Paiva Abreu, 2006. "Which Industrial Policies are Meaningful for Latin America?," IDB Publications (Working Papers) 9360, Inter-American Development Bank.
    14. Shapiro,Helen, 1994. "Engines of Growth," Cambridge Books, Cambridge University Press, number 9780521416405.
    15. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
    16. Juan Carlos Moreno-Brid & Esteban Pérez Caldentey & Pablo Ruíz Nápoles, 2004. "The Washington consensus: a Latin American perspective fifteen years later," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 27(2), pages 345-365, December.
    17. Stumpo, Giovanni, 1995. "El sector de celulosa y papel en Chile: un caso exitoso de reestructuración hacia los 'commodities' industriales," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 30412, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    18. Howard S. Ellis, 1958. "Accelerated Investment as a Force in Economic Development," The Quarterly Journal of Economics, Oxford University Press, vol. 72(4), pages 485-495.
    19. Daniel Traca, 2002. "Imports-as-competitive-discipline: the role of the productivity gap," ULB Institutional Repository 2013/9233, ULB -- Universite Libre de Bruxelles.
    20. Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
    21. José Antonio Ocampo, 2004. "Beyond the Washington consensus: what do we mean?," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 27(2), pages 293-314, December.
    22. Roberts, M. & Tybout, J., 1993. "An Empirical Model of Sunk Costs and the Decision to Export," Papers 4-93-3, Pennsylvania State - Department of Economics.
    23. S. Smirnov, 2001. "Industrial Policy," Problems of Economic Transition, M.E. Sharpe, Inc., vol. 44(7), pages 78-95, November.
    24. Garrido, Celso & Peres Núñez, Wilson, 1998. "Grandes empresas y grupos industriales latinoamericanos," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    25. Romer, Paul, 1994. "New goods, old theory, and the welfare costs of trade restrictions," Journal of Development Economics, Elsevier, vol. 43(1), pages 5-38, February.
    26. Bruton, H.J., 1998. "A Reconsideration of Import Substitution," Center for Development Economics 156, Department of Economics, Williams College.
    27. Crespi, Gustavo Atilio & Katz, Jorge & Stumpo, Giovanni & Benavente H., José Miguel, 1996. "Changes in the industrial development of Latin America," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    28. Amsden, Alice H., 1994. "Why isn't the whole world experimenting with the East Asian model to develop?: Review of the East Asian miracle," World Development, Elsevier, vol. 22(4), pages 627-633, April.
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