Theory at Odds with Best Practice: The Travails of Industrial Policy

Irfan ul Haque ()
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Irfan ul Haque: The author is an unaffiliated researcher who has worked for the World Bank, South Centre, and UNCTAD. He wishes to thank Rashid Amjad, Shahid Amjad Chaudhry, Khalil Hamdani, and Akbar Noman for their perceptive and helpful comments on an earlier draft.

Lahore Journal of Economics, 2015, vol. 20, issue Special Edition, 87-106

Abstract: The problems that afflict Pakistan’s manufacturing sector are widely known. It is also recognized that the current state of affairs must change, but there is little agreement as to what that might entail. The lack of consensus on required actions and policies can be traced back to the end of the era of rapid industrialization in the late 1960s and subsequent withering away of the “developmental state” as Pakistan could then be characterized. The industry’s woes tend to be attributed to import substitution and high protection, with the policy implication that the country must further open up and liberalize. The paper questions this proposition and argues for a fresh approach to industrial policy, exploring what this might involve.

Keywords: Manufacturing; industrial policy; Pakistan (search for similar items in EconPapers)
JEL-codes: L52 (search for similar items in EconPapers)
Date: 2015
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