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This paper calls for a fresh look at industrial policies in the light of recent trends and developments in the global economy. In particular, five new challenges and their implications for industrial policies are discussed. These have been neglected in the debate on industrial policy and include...
Persistent link: https://www.econbiz.de/10008662992
The debate on industrial policy (IP) has been characterized by a number of contractions over the concept of industrial policy, its merits, contents and application. The purpose of this exploratory paper is to review the debate on IP. Outlining the concept and instruments of industrial policy,...
Persistent link: https://www.econbiz.de/10008662997
This study distinguishes between industrial policy that stimulates incumbent industry development, `pro-business policy', and industrial policy that promotes the development of free markets, `pro-market policy'. We find that there is a positive relation between the level of countries'...
Persistent link: https://www.econbiz.de/10010712281
The paper investigated the drivers of innovation in the manufacturing, industry and services sectors of 20 countries in … Sub-Saharan Africa (SSA) and found that (i) secondary education matters for value-added creation or innovation but the … access to finance by firms, especially SMEs, on innovation or value-added generation appears to be decreasing with the …
Persistent link: https://www.econbiz.de/10012856374
Contradictory empirical and theoretical evidence on the relationship between innovation and competition has been … manufacturing. In particular, I investigate how well alternative, yet rigorous measures of innovation and the technology gap, such …
Persistent link: https://www.econbiz.de/10012981330
The Inflation Reduction Act (IRA), passed under the Biden administration in August 2022, is the biggest US climate bill to date. Its focus on subsidy-driven decarbonization incentives marks a potential turning point in US industrial policy and might prevent its repeal under the upcoming Trump...
Persistent link: https://www.econbiz.de/10015197086
South Africa has exhibited tepid economic growth over the past twenty years as well as high levels of income inequality characteristic of a middle income country growth trap. This paper compares and contrasts South Africa's growth trap relative to middle-income peer economies. In addition, we...
Persistent link: https://www.econbiz.de/10010434420
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...
Persistent link: https://www.econbiz.de/10010438054
This paper argues that the single most important factor that explains East Asia's development success was its fast structural transformation toward industrialization, manufacturing in particular. Workers moved out of agriculture into manufacturing, and the sector diversified and upgraded its...
Persistent link: https://www.econbiz.de/10011880565
Innovation clusters that combine public basic research and applied research performed by private firms may be needed … construct a mechanism that can overcome this barrier and that can induce the first-best creation of innovation clusters. The …
Persistent link: https://www.econbiz.de/10011892116