Development and Modern Industrial Policy in Practice: Issues and Country Experiences
Abstract
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.
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Many developing countries have realized they need industrial policy to upgrade their economies.
“many developing countries, which had been busy dismantling their industrial policies during the 1980s and the 1990s, have realized that they need industrial policy if they are to upgrade their economies.”
From Industrial Policy in the 21st Century (2020) · cites this paper as Felipe, 2015
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References 2 · Cited by 31
- Authors
- Felipe, J.
- ORCID
- Jesús Felipe
- Venue
- Edward Elgar Publishing eBooks
- Publisher
- Edward Elgar Publishing
- Published
- 2015-04-24
- OpenAlex
- W2253682035
- Cited by
- 31
- References
- 2
- Citations by year
- 2025: 2 · 2024: 1 · 2023: 3 · 2021: 3 · 2020: 6 · 2019: 5 · 2018: 3 · 2017: 6 · 2016: 1 · 2014: 1
- FWCI
- 4.25
- Type
- book
- Language
- en
- Open access
- closed
- Locations
- Edward Elgar Publishing eBooks (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Political Science and International Relations › Asian Industrial and Economic Development
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Innovation Policy and R&D
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic and Industrial Development
- Keywords
- industrial policy, economic development, sector selection, public action, private initiative, technological dynamism, industrial diversification, human capital, policy monitoring and evaluation, comparative industrial policy
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