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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Industrial Policy and Development: The Political Economy of Capabilities Accumulation

Industrial Policy and Development: The Political Economy of Capabilities Accumulation

Stiglitz, Joseph E.
Dosi, Giovanni

Hardcover

Series: Initiative for Policy Dialogue

Economics

ISBN10: 0199235260
ISBN13: 9780199235261
Publisher: Oxford University Press
Published: Nov 30 2009
Pages: 596
Weight: 2.22
Height: 1.31 Width: 6.14 Depth: 9.21
Language: English
In the 1990s, development policy advocated by international financial institutions was influenced by Washington Consensus thinking. This strategy, based largely on liberalization, privatization, and price-flexibility, downplayed, if not disregarded, the role of government in steering the processes of technological learning and economic growth. With the exception of the Far East, many developing countries adopted the view that industrial policy resulted in inefficiency and poor economic growth.

Ample historical evidence shows that industrial policy does work, when the right technologies and industries are supported and when appropriate combinations of policy measures are implemented. This book provides an in-depth exploration of which industrial policies have been successful, the trade-offs associated with these microeconomic approaches to growth and development, and the opportunities and constraints associated with the current organization of international economic relations.

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