Economic Policy Choices—Savings, Investment, and Industrialization

Anthony Elson

Chapter Chapter 6 in Globalization and Development, 2013, pp 95-121 from Palgrave Macmillan

Abstract: Abstract This chapter examines the role of economic policy choices in determining the very divergent patterns of industrialization and export performance that can be observed between East Asia and Latin America since the middle of the past century. Obviously, these patterns were significantly affected by differences in the macroeconomic policy framework of the two regions, which had important implications for savings and investment as a basis for promoting industrialization. However, in addition, industrial policy played an important role in determining East Asia’s earlier orientation toward export-oriented industrialization and Latin America’s strong attachment to import-substitution industrialization.

Keywords: Foreign Direct Investment; Industrial Policy; North American Free Trade Agreement; Real Effective Exchange Rate; East Asia (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-31639-4_6

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DOI: 10.1057/9781137316394_6

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