Development and Modern Industrial Policy in Practice: Issues and Country Experiences

Development and Modern Industrial Policy in Practice: Issues and Country Experiences

by Jesus Felipe (Editor)


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Development and Modern Industrial Policy in Practice provides an up-to-date analysis of industrial policy. Modern industrial policy refers to the set of actions and strategies used to favor the more dynamic sectors of the economy. A key aspect of modern industrial policy is embedding private initiative in a framework of public action to encourage diversification, upgrading, and technological dynamism to achieve development in the twenty-first century.

The book reviews key questions that policymakers ask about industrial policy, such as: who selects sectors; what is the rationale for sector selection; what are the main tools to promote sectors?, what is the role of human capital; and what are the mechanisms for monitoring and evaluation? Expert contributors discuss how to undertake industrial policy effectively and examine the experiences of Australia, the EU, the Republic of Korea, Malaysia, and the US.

Policymakers, multilateral development institutions, and scholars will find the discussions on industrial policy, structural transformation, economic diversification and upgrading, and capabilities to be useful and practical.

Product Details

ISBN-13: 9781784715557
Publisher: Elgar, Edward Publishing, Inc.
Publication date: 06/16/2016
Edition description: Reprint
Pages: 424
Product dimensions: 6.00(w) x 1.25(h) x 9.00(d)

About the Author

Edited by Jesus Felipe, Advisor in the Office of the Chief Economist, Economic Research and Regional Cooperation Department, Asian Development Bank, Manila, Philippines

Table of Contents



Ha-Joon Chang

1. Modern Industrial Policy

Jesus Felipe

2. Issues in Modern Industrial Policy (I): Sector Selection, Who, How and Sector Promotion?

Jesus Felipe and Changyong Rhee

3. Issues in Modern Industrial Policy (II): Human Capital and Innovation and Monitoring and Evaluation

Jesus Felipe and Changyong Rhee

4. Capability Building and Industrial Diversification

Keun Lee

5. Industrial Policy Design and Implementation Challenges

Mushtaq H. Khan

6. Catching Up: Structural Transformation and Diversification

Justin Yifu Lin and Yan Wang

7. Economic Diversification: Implications for Kazakhstan

Jesus Felipe and Cesar A. Hidalgo

8. Industrial Diversification in the People’s Republic of China

Justin Yifu Lin, Cheryl Xiaoning Long and Xiaobo Zhang

9. Do as I Say, or As I Do? US Innovation and Industrial Policy since the 1980s

Matthew R. Keller and Fred Block

10. The Republic of Korea’s Financial Support for Small and Medium Enterprises and Venture Businesses

Jung-moh Chang

11. Industrial Policy: The Australian Experience

William Francis Mitchell

12. Diversification and Industrial Policies in Malaysia

Tham Siew Yean

13. Industrial Policy in the European Union

Kristine Farla, Francesca Guadagno and Bart Verspagen


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