Efficiency, Finance, and Varieties of Industrial Policy: Guiding Resources, Learning, and…

Hardcover | November 29, 2016

EditorAkbar Noman, Joseph E. Stiglitz

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Industrial policy, once relegated to resource allocation, technological improvements, and the modernization of industries, should be treated as a serious component of sustainability and developmental economics. A rich set of complimentary institutions, shared behavioral norms, and public policies have sustained economic growth from Britain's industrial revolution onwards. This volume revisits the role of industrial policy in the success of these strategies and what it can offer developed and developing economies today. Featuring essays from experts invested in the expansion of industrial policies, topics discussed include the most effective use of industrial policies in learning economies, development finance, and promoting investment in regional and global contexts. Also included are in-depth case studies of Japan and India's experience with industrial policy in the banking and private sector. One essay revisits the theoretical and conceptual foundations of industrial policy from a structural economics perspective and another describes the models, packages, and transformation cycles that constitute a variety of approaches to implementation. The collection concludes with industrial strategies for facilitating quality growth, realizing more sustainable manufacturing development, and encouraging countries to industrialize around their natural resources.

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Industrial policy, once relegated to resource allocation, technological improvements, and the modernization of industries, should be treated as a serious component of sustainability and developmental economics. A rich set of complimentary institutions, shared behavioral norms, and public policies have sustained economic growth from Br...

Akbar Noman is senior fellow at the Initiative for Policy Dialogue and adjunct professor of international and public affairs at Columbia University. He is coeditor, with Joseph E. Stiglitz, of Industrial Policy and Economic Transformation in Africa (Columbia, 2015). Joseph E. Stiglitz is University Professor at Columbia University. A ...

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Format:HardcoverDimensions:528 pages, 9 × 6 × 0.98 inPublished:November 29, 2016Publisher:Columbia University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0231180500

ISBN - 13:9780231180504

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Table of Contents

1. Learning, Industrial, and Technology Polices: An Overview, by Akbar Noman and Joseph E. StiglitzPart 1: Theoretical and Conceptual Foundations2. Industrial Policies in Learning Economies, by Mario Cimoli and Giovanni Dosi3. Dynamic Efficiency: Structural Dynamics and Economic Growth in Developing Countries, by José Antonio OcampoPart 2: Development Finance4. Uncertainty, Investment, and Financing: The Strategic Role of National Development Banks, by João Carlos Ferraz5. The Roles of Development Banks: How They Can Promote Investment in Europe and Globally, by Stephany Griffith-Jones and Giovanni Cozzi6. Inside the Black Box of Japan's Institution for Industrial Policy: An Institutional Analysis of the Development Bank, Private Sector, and Labor, by Go Shimada7. Development Banks and Industrial Finance: The Indian Experience and Its Lessons, by Deepak NayyarPart 3: Practice and Proposals8. Industrial Policy Revisited: A New Structural Economics Perspective, by Justin Yifu Lin9. Varieties of Industrial Policy: Models, Packages, and Transformation Cycles, by Antonio Andreoni10. Industrial Strategies: Toward a Learning Society for Quality Growth, by Akio Hosono11. Could Technology Make Natural Resources a Platform for Industrialization? Identifying a New Opportunity for Latin America (and Other Resource-Rich Countries), by Carlota Perez12. Manufacturing Development: The Role of Comparative Advantage, Productivity Growth, and Country-Specific Conditions, by Nobuya Haraguchi13. Does Manufacturing Colocate with Intermediate Services? Analyzing the World Input-Output Database, by Ming Leong KuanAcknowledgmentsContributorsIndex

Editorial Reviews

An excellent addition to the literature on learning, industrial, and technology policies. The links between capabilities, learning and productivity are complex and unlikely to spontaneously emerge. Effective policies have to take into account differences in political contexts, capability levels and structures of national economies, as well as global institutions and opportunities. This book adds to our understanding of the complexity of these challenges as well as the necessity of addressing them.