The Industrial Policy Revolution I

The Industrial Policy Revolution I

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In the wake of the global financial crisis, there is a new impetus for industrial policy. In Europe and the United States, where the crisis emphasized that markets are by themselves imperfect, industrial policy has re-entered the dialogue about restoring growth. And in emerging economies especially, policymakers have taken a keen interest in the various ways smart industrial policy can help sustain growth and open up new possibilities for employment creation. In this volume, world-renowned economists and policymakers write about industrial policy's rejuvenation, particularly in a development context. Through discussions of theory and case studies, the volume provides the broad context for its companion, New Thinking on Industrial Policy: Implications for Africa.One challenge facing the construction of deliberate policy for other sectors is to calibrate the public support so that the ex post reward does not give too many free handouts to private investors who may have invested with lower incentives, but at the same ... Institutions, Integration, and Geography: In Search of the Deep Determinants of Economic Growth (Princeton, NJ: ... Development, vol.8, 5, 683a€“ 696.

Title:The Industrial Policy Revolution I
Author: Joseph E. Stiglitz, Justin Lin Yifu
Publisher:Palgrave Macmillan - 2013-12-13

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