Industrial Policy and Comparative Advantage: When and Where Government Involvement Can Increase Social Welfare

Yong Wang

No 2016-13, HKUST IEMS Thought Leadership Brief Series from HKUST Institute for Emerging Market Studies

Abstract: Yong Wang, Assistant Professor of Economics and Faculty Associates of HKUST IEMS, discussed how government involvement can make or break industrial development as well as social welfare. He pointed out that successful industrial policy should involve dynamic strategic adjustments and the promotion of a given industry in phases, rather than all-at-once. In particular, he cautioned that industrial upgrading may present a challenge to social stability in countries like China, where accelerated industrial upgrading may displace lower-skilled workers and reduces jobs.

Keywords: Industrial development; industrialization; policy (search for similar items in EconPapers)
Pages: 4 pages
Date: 2016-09, Revised 2016-09
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