Industrial Policy and Development

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.

About the Authors

Adrian H. Ramos

Ajit Singh
Professor of Economics
University of Cambridge

Joseph Stiglitz
Co-President
Initiative for Policy Dialogue (IPD)

Joseph E. Stiglitz is co-President of the Initiative for Policy Dialogue, and Chairman of the Committee on Global Thought at Columbia University. He is University Professor at Columbia, teaching in its Economics Department, its Business School, and its School of International and Public Affairs. He chaired the UN Commission of Experts on Reforms of the International Monetary and Financial System, created in the aftermath of the financial crisis by the President of the General Assembly. He is former Chief Economist and Senior Vice-President of the World Bank and Chairman of President Clinton’s Council of Economic Advisors. He was awarded the Nobel Memorial Prize in Economics in 2001.

Annalisa Primi
Economist
Development Centre
Organization for Economic Cooperation and Development

Annalisa Primi is an economist at the OECD Development Centre. She has worked in the OECD Directorate for Public Governance and Territorial Development, and the OECD Directorate for Science, Technology and Industry. She previously worked with the United Nations Economic Commission for Latin America and the Caribbean.

Erik S. Reinert
Founder
The Other Canon

Mario Luiz Possas
Professor
Universidad Federal Rio de Janeiro

Wilson Peres
Chief, Unit on Industrial and Technological Development
United Nations Economic Commission for Latin America and the Caribbean (ECLAC-UN)

Fernando Perini
Senior Program Officer
Institute for Connectivity in the Americas

Gabriel Palma
University Lecturer
University of Cambridge

Colin Mayer
Peter Moores Professor of Management Studies
Said Business School

Roberto Mazzoleni
Professor of Economics
Columbia University

Mushtaq Khan
Senior Professor in Economics
The School of Oriental and African Studies, University of London

Bernardo Kosacoff
Director
United Nations Economic Commission for Latin America and the Caribbean (ECLAC-UN)

Giovanni Dosi
Professor of Economics
Sant'Anna School of Advanced Studies of Pisa

Giovanni Dosi is Professor of Economics at the Scuola Superiore Sant'Anna in Pisa and Visiting Professor at the University of Manchester. His major research areas include economics of innovation and technological change, industrial organisation and industrial dynamics, theory of the firm and corporate governance, economic growth and development. Professor Dosi is Co-Director of the task forces on Industrial Policy and Intellectual Property Rights at the Initiative for Policy Dialogue, Columbia University, New York; Continental Europen Editor of Industrial and Corporate Change, Research consultant for Italian and international public and private institutions, and Honorary Research Professor at the University of Sussex.

Michael Hobday
Professor in Innovation Management
University of Sussex

Michele Di Maio
Assistant Professor in Economics
University of Naples \"Parthenope\"

Nelson Correa
ECLAC

Carl J. Dahlman
Henry R Luce Associate Professor
Georgetown University

Mario Cimoli
Professor of Economics
Ca' Foscari University of Venice

M. Cimoli is Professor of Economics at the University of Venice (Ca' Foscari) since 1992 and Economic Affair Officer at ECLAC (Economic Commission for Latin America and the Caribbean) of UNITED NATIONS since 1999. He obtained a DPhil at the SPRU (University of Sussex) and he has held a number of visiting appointments in different universities and institutions (University of Pisa, University Metropolitan of Mexico (UAM), University of Campinas, etc).

Benjamin Coriat
Professor of Economics
Universite de Paris 13

Heloisa Borges
Student
Universidad Federal Rio de Janeiro

Carolina Castaldi
Professor
Eindhoven Centre for Innovation Studies (Ecis)

Antonio Barros de Castro
Professor
Universidad Federal Rio de Janeiro

Alice Amsden
Professor
Massachusetts Institute of Technology

Yilmaz Akyüz
Former Director, Globalization and Development Strategies (retired)
United Nations Conference on Trade and Development

Dr. Yilmaz Akyuz is the Special Economic Advisor of South Centre. Until his retirement in 2003, he was Director of the Division on Globalization and Development Strategies as well as Chief Economist at the United Nations Conference on Trade and Development (UNCTAD). He has published extensively in macroeconomics, finance, growth and development. His current activities include policy research for international organizations, and advising governments on development policy issues, and the Third World Network on research in trade, finance and development.