The Bangladesh economy has undergone significant structural changes over the last four decades. The share of agriculture in GDP has declined, while the significance of industry and service sectors has increased. These structural changes have been associated with persistent challenges such as...

Since the late 1970s, the Chinese government has been undertaking major efforts in developing their countries economy by means of industrial policy. However, a more narrow approach to industrial policy has been pursued only since 2010, with the initiation of the 'Strategic Emerging Industries'...

China uses subsidies extensively to take a leading role in the global markets of green-tech products such as battery electric vehicles and wind turbines. Against the background of the current EU investigations into Chinese subsidies in these sectors, this article takes a careful look at the...

Japan was the first non-western country to accomplish successful industrialization, and the dominant perception of its industrial policy had over-emphasized specific characteristics of Japan. However, from the perspective of today's development thinking, Japan's economic history shared a wide...

Does financial health shore up firm productivity? This paper empirically investigates this question and presents productivity as another driving factor in translating financial development into real economic progress. Our empirical framework employs Levinsohn and Petrin's (2003) semi-parametric...

African countries are facing great opportunities but also formidable challenges in accelerating economic growth and sustaining a high level of economic performance. The experiences of East Asian countries may offer valuable insights for African leaders and governments in making concerted efforts...

Inspired by Gunnar Myrdal's core concepts discussed in his seminal work, Asian Drama: An Inquiry into the Poverty of Nations, published in 1968, this paper analyses the opening-up experiences of three Asian countries (China, India, and Malaysia) by triangulating between the following: (i) the...

To help explain the common failure of oil or other natural resource exporting countries to diversify into industry, it has been common to trace this failure to real exchange rate appreciation. This has also been done in Azerbaijan. However, because Azerbaijan has devoted so much of its oil...

Korea's rapid export expansion suddenly began in the early 1960s and boosted the economy. This paper's investigation finds that it began in 1961, as new export items appeared, export of which increased incomparably faster than that of the current export items at the time. How and why of this...

This paper examines the progress of state-owned enterprise (SOE) reform in the People’s Republic of China. After defining SOEs and considering their scope of operation within the PRC economy, the focus of the paper is on the major reform waves that followed the deterioration of SOE...