Publication:
Normalizing Industrial Policy

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dc.contributor.authorRodrik, Dani
dc.date.accessioned2017-08-28T17:06:00Z
dc.date.available2017-08-28T17:06:00Z
dc.date.issued2008
dc.description.abstractThe theoretical case for industrial policy is a strong one. The market failures that industrial policies target in markets for credit, labor, products, and knowledge have long been at the core of what development economists study. The conventional case against industrial policy rests on practical difficulties with its implementation. Even though the issues could in principle be settled by empirical evidence, the evidence to date remains uninformative. Moreover, the conceptual difficulties involved in statistical inference in this area are so great that it is hard to see how statistical evidence could ever yield a convincing verdict. A review of industrial policy in three non-Asian settings El Salvador, Uruguay, and South Africa highlights the extensive amount of industrial policy that is already being carried out and frames the need for industrial policy in the specific circumstances of individual countries. The traditional informational and bureaucratic constraints on the exercise of industrial policy are not givens; they can be molded and rendered less binding through appropriate institutional design. Three key design attributes that industrial policy must possess are embeddedness, carrots-and-sticks, and accountability.en
dc.identifierhttp://documents.worldbank.org/curated/en/524281468326684286/Normalizing-industrial-policy
dc.identifier.doi10.1596/28009
dc.identifier.urihttps://hdl.handle.net/10986/28009
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesCommission on Growth and Development Working Paper;No. 3
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectACCOUNTABILITY
dc.subjectACCOUNTING
dc.subjectADVERSE EFFECTS
dc.subjectAGENCY PROBLEMS
dc.subjectAGRICULTURE
dc.subjectALLOCATION
dc.subjectALTERNATIVE USE
dc.subjectANTI-CORRUPTION
dc.subjectASSETS
dc.subjectASYMMETRIC INFORMATION
dc.subjectBANK CREDIT
dc.subjectBANK LENDING
dc.subjectBANKS
dc.subjectBARGAINING
dc.subjectBENCHMARKING
dc.subjectBENCHMARKS
dc.subjectBENEFICIARIES
dc.subjectBENEFICIARY
dc.subjectBID
dc.subjectBUSINESS CYCLE
dc.subjectBUSINESSMEN
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANK INDEPENDENCE
dc.subjectCLIMATE
dc.subjectCLIMATE CHANGE
dc.subjectCOLLAPSE
dc.subjectCOLLATERAL
dc.subjectCOLLECTIVE ACTION
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMPETITIVENESS
dc.subjectCONFIDENCE
dc.subjectCONSUMER PROTECTION
dc.subjectCOORDINATION FAILURES
dc.subjectCORRUPTION
dc.subjectCOST-BENEFIT
dc.subjectCOST-BENEFIT ANALYSIS
dc.subjectCREDIT CONSTRAINT
dc.subjectCREDIT CONSTRAINTS
dc.subjectCREDIT MARKET
dc.subjectCREDIT PROGRAM
dc.subjectCREDIT SUBSIDIES
dc.subjectCREDITORS
dc.subjectCURRENCY
dc.subjectCURRENCY DEPRECIATION
dc.subjectDEBT
dc.subjectDEMOCRACY
dc.subjectDEREGULATION
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDEVELOPMENT BANK
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDEVELOPMENT STRATEGY
dc.subjectDIMINISHING RETURNS
dc.subjectDIRECTED CREDIT
dc.subjectDIVERSIFIED PORTFOLIO
dc.subjectDOMESTIC PRODUCTION
dc.subjectDYNAMICS OF GROWTH
dc.subjectECONOMETRICS
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC DIVERSIFICATION
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC HISTORY
dc.subjectECONOMIC OUTCOMES
dc.subjectECONOMIC PERFORMANCE
dc.subjectECONOMIES OF SCALE
dc.subjectEQUIPMENT
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURES
dc.subjectEXPORT PERFORMANCE
dc.subjectEXPORTS
dc.subjectEXTERNAL FINANCE
dc.subjectEXTERNALITIES
dc.subjectFACE VALUE
dc.subjectFEASIBILITY
dc.subjectFEASIBILITY STUDIES
dc.subjectFINANCIAL LOSSES
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKETS
dc.subjectFIRM PERFORMANCE
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN INVESTORS
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGLOBALIZATION
dc.subjectGOOD GOVERNANCE
dc.subjectGOVERNMENT INTERVENTION
dc.subjectGOVERNMENT POLICY
dc.subjectGOVERNMENT SUPPORT
dc.subjectGROWTH RATE
dc.subjectGROWTH THEORY
dc.subjectHOLDING
dc.subjectHOST COUNTRIES
dc.subjectHUMAN CAPITAL
dc.subjectIMPORT SUBSTITUTION
dc.subjectIMPORTS
dc.subjectINCOME
dc.subjectINCOME LEVELS
dc.subjectINFANT INDUSTRY ARGUMENT
dc.subjectINFLATION
dc.subjectINFORMATIONAL ASYMMETRIES
dc.subjectINFORMATIONAL ASYMMETRY
dc.subjectINITIATIVE
dc.subjectINNOVATION
dc.subjectINNOVATIONS
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINTELLECTUAL PROPERTY
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL DEVELOPMENT
dc.subjectINVESTING
dc.subjectINVESTMENT BANK
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT FINANCE
dc.subjectINVESTMENT OPPORTUNITIES
dc.subjectJOBS
dc.subjectLABOR MARKET
dc.subjectLABOR TURNOVER
dc.subjectLAWS
dc.subjectLOW UNEMPLOYMENT
dc.subjectMACROECONOMIC INSTABILITY
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMACROECONOMICS
dc.subjectMARGINAL COSTS
dc.subjectMARKET ANALYSTS
dc.subjectMARKET DISCIPLINE
dc.subjectMARKET ENVIRONMENTS
dc.subjectMARKET FAILURE
dc.subjectMARKET FAILURES
dc.subjectMARKET SHORTCOMINGS
dc.subjectMICROFINANCE
dc.subjectMINISTER
dc.subjectMONETARY POLICY
dc.subjectMULTINATIONAL
dc.subjectMULTINATIONALS
dc.subjectNATIONAL OUTPUT
dc.subjectOPPORTUNITY COST
dc.subjectOUTPUTS
dc.subjectPENSION
dc.subjectPENSION SYSTEMS
dc.subjectPENSIONS
dc.subjectPERFORMANCE STANDARDS
dc.subjectPOLICY MAKERS
dc.subjectPOLICY RESPONSE
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICIAN
dc.subjectPOLITICIANS
dc.subjectPORTFOLIO
dc.subjectPOSITIVE EFFECTS
dc.subjectPOSITIVE EXTERNALITIES
dc.subjectPOTENTIAL INVESTMENT
dc.subjectPREFERENTIAL
dc.subjectPRINCIPAL-AGENT
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE LENDERS
dc.subjectPRIVATIZATION
dc.subjectPROCUREMENTS
dc.subjectPRODUCTION COSTS
dc.subjectPRODUCTIVITY
dc.subjectPRODUCTIVITY GROWTH
dc.subjectPROPERTY RIGHTS
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC INFORMATION
dc.subjectREAL EXCHANGE RATE
dc.subjectREAL EXCHANGE RATES
dc.subjectREAL WAGES
dc.subjectRELATIVE PRICE
dc.subjectREMEDIES
dc.subjectREMEDY
dc.subjectREMITTANCES
dc.subjectRENEGOTIATION
dc.subjectRENTS
dc.subjectRESOURCE ALLOCATION
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectRISK CAPITAL
dc.subjectRISK MARKETS
dc.subjectSAFETY
dc.subjectSAFETY NETS
dc.subjectSOCIAL COHESION
dc.subjectSOURCE OF CREDIT
dc.subjectSTOCKS
dc.subjectSTRUCTURAL CHANGE
dc.subjectSUPPLIERS
dc.subjectTAX
dc.subjectTAX CODE
dc.subjectTAX CREDITS
dc.subjectTAX INCENTIVES
dc.subjectTAX REGIME
dc.subjectTAX TREATMENT
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTRADE BARRIERS
dc.subjectTRADE LIBERALIZATION
dc.subjectTRADE POLICIES
dc.subjectTRADE PROTECTION
dc.subjectTRANSPARENCY
dc.subjectTURNOVER
dc.subjectUNDERVALUATION
dc.subjectUNEMPLOYED
dc.subjectUNEMPLOYMENT
dc.subjectUNSKILLED LABOR
dc.subjectVALUE ADDED
dc.subjectWAGES
dc.subjectWHITE ELEPHANTS
dc.subjectWITHDRAWAL
dc.subjectWORLD TRADE ORGANIZATION
dc.subjectWTO
dc.titleNormalizing Industrial Policyen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.date.disclosure2010-11-24
okr.date.doiregistration2025-04-15T11:45:29.127887Z
okr.doctypePublications & Research::Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/524281468326684286/Normalizing-industrial-policy
okr.guid524281468326684286
okr.identifier.externaldocumentum000333038_20101126051723
okr.identifier.internaldocumentum13163290
okr.identifier.report57703
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/524281468326684286/pdf/577030NWP0Box31UBLIC10gc1wp10031web.pdfen
okr.region.countryEl Salvador
okr.region.countrySouth Africa
okr.region.countryUruguay
okr.topicMacroeconomics and Economic Growth::Economic Theory & Research
okr.topicIndustry::Industrial Economics
okr.topicMacroeconomics and Economic Growth::Economic Development
okr.topicPrivate Sector Development::Competition Policy
okr.unitEconomic Policy Sector (LCSPE)
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