Industrial Policy
Task Force Chairs
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Akbar Noman
Senior Policy Fellow
Initiative for Policy Dialogue (IPD)
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Joseph Stiglitz
President
Initiative for Policy Dialogue (IPD)
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-stability, down-played, if not disregarded, the role of government in economic planning. With the exception of the Far East, many developing countries adopted the view that industrial policy resulted in inefficiency and poor economic growth pervaded. Despite this negative perception, this prescription has been successfully employed in what are now some of the most vibrant emerging markets. This Task Force explores what industrial policies have been successful and the risks and trade-offs associated with these microeconomic approaches to growth and development.
Upcoming Events
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No upcoming events currently
Past Events
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The Quality of Growth in Sub-Saharan Africa Workshop of the JICA-IPD Task Force on Africa
06/06/16 - 06/07/16 Meeting
New York, New York, United States
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The 2nd Latin America-China Conference: China-LAC Development Collaboration - A "New Normal"?
03/21/16 Meeting
Shanghai, China
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IPD/JICA Task Force Meeting on Industrial Policy and Transformation at Columbia University
02/24/15 Meeting
New York, New York, United States
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IPD/JICA Task Force Meeting on Industrial Policy and Transformation in Sweimeh, Jordan
06/05/14 - 06/07/14 Meeting
Sweimeh, Jordan
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"Industrial Policy and Development" Book Launch
02/22/10 Book Launch
Geneva, Switzerland
Latest Publications
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Devising a Growth Strategy for Puerto Rico
06/15/16 Working Paper
José Antonio Ocampo, Deepak Lamba Nieves, Sergio Marxuach
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Industrial Policy, Learning, and Development
02/10/16 Working Paper
Joseph Stiglitz
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Industrial Policy and Economic Transformation in Africa
12/03/15 Book
Akbar Noman (Editor), Joseph Stiglitz (Editor)
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Industrial Policy and Development
10/01/09 Book
Mario Cimoli (Editor), Giovanni Dosi (Editor), Joseph Stiglitz (Editor)
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The Future of Industrial Policies in the New Millenium: Toward a Knowledge-Centered Development Agenda
10/01/08 Working Paper
Joseph Stiglitz, Mario Cimoli, Giovanni Dosi
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Intellectual Property and Industrial Development: A Critical Assessment
10/01/08 Working Paper
Mario Cimoli, Benjamin Coriat, Annalisa Primi
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-stability, down-played, if not disregarded, the role of government in economic planning. With the exception of the Far East, many developing countries adopted the view that industrial policy resulted in inefficiency and poor economic growth pervaded.
Although the term industrial policy has earned a poor reputation in the past, this prescription has been successfully employed in what are now some of the most vibrant emerging markets. India, China, Brazil, and many other NIE Asian countries nurtured technology intensive industries to jumpstart their telecom, online, and export industries. They have had remarkable success not only in boosting economic growth, but also in diffusing the benefits of technology led growth—including research and development, high tech skills, and education—to other sectors in their economies.
These examples show that industrial policy does work, when the right industries are supported and when commerce has large spillovers, such as labor force education and training, employment generation, and useful research and development outputs. This Task Force explores what industrial policies have been successful and the risks and trade-offs associated with these microeconomic approaches to growth and development.