Description
Latecomers in the global economy have been catching up and overtaking established economic powers, prompting interest in the policies that have led to this success. The authors in this text address a new formulation of industrial policy for latecomers in semi-industrialized countries, arguing that as national economies become more open, countries at different stages of development increasingly compete in a common arena, but with unequal terms of competition. This book seeks to develop systematic, theoretical arguments about consistent, sustainable industrial policies for latecomers in order to offer the basis for theory and public policy.
The period since the World War II has produced examples of late developing countries, especially from East Asia, catching up with and even overtaking established economic powers. This has prompted interest in the policies which have resulted in this success and the lessons which might be learned from them. In this text, the authors address a new formulation of industrial policy for latecoming semi-industrialized countries. They argue that as national economies acquire an unprecedented degree of openness, countries which are at different stages of development increasingly compete in a common arena, but with unequal terms of competition. This book seeks to develop systematic, theoretical arguments about consistent, sustainable industrial policies for latecomers in order to offer the basis for theory and public policy. It contains contributions from international economists working in this area.
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