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International DevelopmentIdeas, Experience, and Prospects$
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Bruce Currie-Alder, Ravi Kanbur, David M. Malone, and Rohinton Medhora

Print publication date: 2014

Print ISBN-13: 9780199671656

Published to Oxford Scholarship Online: April 2014

DOI: 10.1093/acprof:oso/9780199671656.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 12 May 2021

industrial policy

industrial policy

(p.550) Chapter 32 industrial policy
International Development

Michele Di Maio

Oxford University Press

Industrial policy (IP) is one of the most controversial issues in economics. This chapter provides a concise but comprehensive discussion of this concept in the context of developing countries. The chapter begins by describing the different possible definitions of IP. Next it presents the economic arguments against and in favour of IP. The chapter then describes the characteristics of the various models of IP historically adopted by developing countries and discusses them in a comparative perspective. The performances of IP in the different historical periods, regions, and countries are compared and some explanations for their different results are suggested. Next, the chapter discusses how the changes in the rules of world trade and in the international division of labour have influenced the design and implementation of IP. Finally, elements of the so-called “new industrial policy” are discussed. The last section summarizes and provides some suggestions for future research.

Keywords:   industrial policy, east Asian Tigers, latin America, africa, import substitution industrialization, developmental state, public–private dialogue

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