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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.htmlEmail:


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    1. 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.
    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. Bruton, H.J., 1998. "A Reconsideration of Import Substitution," Center for Development Economics 156, Department of Economics, Williams College.
    4. Juan Carlos Moreno-Brid & Esteban P�Rez 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.
    5. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-37, October.
    6. 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.
    7. Paul M. Romer, 1993. "New Goods, Old Theory, and the Welfare Costs of Trade Restrictions," NBER Working Papers 4452, National Bureau of Economic Research, Inc.
    8. Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1988. "Industrialization and the Big Push," NBER Working Papers 2708, National Bureau of Economic Research, Inc.
    9. Helen Shapiro, 2003. "Bringing the firm back in," Chapters, in: Development Economics and Structuralist Macroeconomics, chapter 13 Edward Elgar.
    10. Antonio Ciccone & Kiminori Matsuyama, 1995. "Start-up costs and pecuniary externalities as barriers to economic development," Economics Working Papers 142, Department of Economics and Business, Universitat Pompeu Fabra.
    11. Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
    12. Henry J. Bruton, 1998. "A Reconsideration of Import Substitution," Journal of Economic Literature, American Economic Association, vol. 36(2), pages 903-936, June.
    13. repec:idb:brikps:8551 is not listed on IDEAS
    14. Sanjaya Lall (QEH), . "Reinventing Industrial Strategy: The Role of Government Policy in Building Industrial Competitiveness," QEH Working Papers qehwps111, Queen Elizabeth House, University of Oxford.
    15. Traca, Daniel A., 2002. "Imports as competitive discipline: the role of the productivity gap," Journal of Development Economics, Elsevier, vol. 69(1), pages 1-21, October.
    16. Jos� 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.
    17. 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.
    18. Roberts, Mark J. & Tybout, James R., 1995. "An empirical model of sunk costs and the decision to export," Policy Research Working Paper Series 1436, The World Bank.
    19. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
    20. Shapiro, Helen & Taylor, Lance, 1990. "The state and industrial strategy," World Development, Elsevier, vol. 18(6), pages 861-878, June.
    21. Marcelo de Paiva Abreu, 2006. "Which Industrial Policies are Meaningful for Latin America?," IDB Publications (Working Papers) 9360, Inter-American Development Bank.
    22. repec:cup:cbooks:9780521416405 is not listed on IDEAS
    23. Rodrik, Dani, 2004. "Industrial Policy for the Twenty-First Century," Working Paper Series rwp04-047, Harvard University, John F. Kennedy School of Government.
    24. S. Smirnov, 2001. "Industrial Policy," Problems of Economic Transition, M.E. Sharpe, Inc., vol. 44(7), pages 78-95, November.
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