New Industrial Policies to Achieve Sustainable Asia-Wide Economic Development

Masahito Ambashi, Naoyuki Haraoka, Fukunari Kimura, Yasuyuki Sawada, Masakazu Toyoda and Shujiro Urata
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Naoyuki Haraoka: Japan Economic Foundation
Masakazu Toyoda: Japan Economic Foundation

No DP-2024-34, Working Papers from Economic Research Institute for ASEAN and East Asia (ERIA)

Abstract: This paper underscores the need for a renewed industrial strategy tailored to East Asian and Southeast Asian nations and regions that have experienced rapid economic growth through industrialisation. The proposed strategy emphasises integrating digitalisation into industrial and development policies as a catalyst for innovation. In light of the global resurgence of industrial policy, the paper aims to advocate for the transformation of economic structures through the application of accumulated empirical knowledge and evidence-based policymaking. Additionally, it provides a comprehensive account of the historical development strategies in Asia and offers insights into how these strategies should adapt to future challenges and opportunities.

Keywords: East Asia and ASEAN; industrial policy; evidence-based policymaking; digitalisation (search for similar items in EconPapers)
JEL-codes: L52 O14 O21 O53 (search for similar items in EconPapers)
Date: 2025-02-18
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