Industrial Planning in a Human Development Framework - Experiences in Asia
Published: 2018
Author(s) Name: Sarthi Acharya and Santosh Mehrotra |
Author(s) Affiliation: Visiting Professor at Institute of Human Development, Delhi.
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Abstract
A pro-active industrial policy in contrast
to a purely market-led approach
is central to achieving success in industrialization,
economic growth
and poverty reduction. Experiences
of mainly China, South Korea, Malaysia,
and to some extent, Taiwan
suggest that governments played a
central role in directing investments,
promoting/protecting national industries
and fostering R&D before they
became mature economies. Evidences
from Thailand and Vietnam
supplement the point. South Asian
countries having weak and uncertain
industrial policies have not
made any significant headway. Industrial
policy alone is not sufficient
for an industrial transformation. A
sound educational and skill development
policy to create human capital
is equally important for success.
The paper explains why most South
Asian and Latin American and sub-
Saharan African economies have
experienced lesser success compared
to East Asian economies.
Keywords: N.A.
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