Industrial policy redux

The preceding chapters have described both long-standing and emerging challenges facing developing countries as they seek to transform the structure of their economies in support of sustainable and inclusive growth. This chapter draws some broad policy lessons. In particular, it reconsiders the contribution of industrial policy in the context of a more open and interdependent but uneven world economy, an economy which has also become increasingly financialized. Moreover, in many developing countries over the past few decades, industrialization has stalled or there has been premature deindustrialization.

Related Subject(s): International Trade and Finance