 Capability Failure and Industrial Policy to Move beyond the Middle-Income Trap: From Trade-based to Technology-based SpecializationKeun Lee () Chapter 4.2 in The Industrial Policy Revolution I, 2013, pp 244-272 from Palgrave Macmillan Abstract: Abstract The disappointing economic performance of the past two decades under the Washington Consensus of the 1980s and 1990s and the impact of the 2008 global financial crisis have resulted in the revival of industrial policy as a keyword in development literature. New literature in the same vein includes the works of Cimoli, Dosi, and Stiglitz (2009), as well as those of Lin (2012), Lee and Mathews (2010), and Wade (2012). Industrial policy is a broad concept. According to Johnson (1982), it refers to policies that improve the structure of a domestic industry in order to enhance a country’s international competitiveness. Variants of industrial policies existed in successful countries, such as the UK from the 14th to the 18th centuries, the USA and Germany in the 19th century, Japan in the late 19th century, and Korea and Taiwan in the late 20th century (Cimoli et al., 2009). Keywords: Income Country; Absorptive Capacity; Industrial Policy; Income Status; Cycle Technology (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-137-33517-3_16 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in International Economic Association Series from Palgrave Macmillan |
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