Implementing industrial policy: How to choose?

John Weiss

Oxford Development Studies, 2018, vol. 46, issue 1, 71-82

Abstract: There has been a resurgence of interest in industrial policy in higher income as well as in emerging and still developing economies, in part due to a renewed interest in the role of economic structure, with industrial policy interpreted as interventions designed to shift resources into higher return, higher growth activities. Dialogue with the private sector is critical but central to policy choice is how far policy should be applied on a vertical as opposed to a horizontal basis. This paper surveys the techniques available to guide selectivity, focusing in particular on trade-based indicators. It concludes that whilst in practice some selectivity is necessary, there is a limit as to how far this can be guided by objective indicators and flexibility and experimentation will be required in the application of policy.

Date: 2018
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DOI: 10.1080/13600818.2017.1313399

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