The Industrial Policy Revolution I The Role of Government Beyond Ideology

This volume is the result of the 2012 International Economic Association's series of roundtables on the theme of Industrial Policy. The first, 'New Thinking on Industrial Policy,' was hosted by the World Bank in Washington, D.C, and the second, 'New Thinking on Industrial Policy: Implications for Africa,' was held in Pretoria, South Africa.

PART I: CONCEPTUAL ISSUES AND PRINCIPLES OF INDUSTRIAL POLICY 1. Comparative Advantage: The Silver Bullet of Industrial Policy; Justin Yifu Lin and Célestin Monga 2. Comments on 'Comparative Advantage: The Silver Bullet of Industrial Policy; Ha-Joon Chang 3. Industrial Policies, the Creation of a Learning Society, and Economic Development; Bruce Greenwald and Joseph Stiglitz 4. Discussion of 'Industrial Policies, the Creation of a Learning Society, and Economic Development; Josh Lerner PART II: SPECIAL ISSUES FOR DEVELOPING COUNTRIES 5. Technology Policies and Learning with Imperfect Governance; Mushtaq H. Khan 6. Comments on 'Technology Policies and Learning with Imperfect Governance'; Pranab Bardham 7. The Boulevard of Broken Dreams: Industrial Policy and Entrepreneurship; Josh Lerner 8. Comments on 'The Boulevard of Broken Dreams: Industrial Policy and Entrepreneurship'; Indermit Gill PART III: INSTRUMENTS OF INDUSTRIAL POLICY 9. Financing Development: The Case of BNDES; João Carlos Ferraz, Claudio Figueiredo Coelho Leal, Felipe Silveira Marques and Marcelo Trindade Miterhof 10. Comments on 'Financing Development: The Case of BNDES'; Robert Cull 11. Growth and the Quality of Foreign Direct Investment; Laura Alfaro and Andrew Charlton 12. Comments on 'Growth and the Quality of Foreign Direct Investment; Ann Harrison 13. Clusters as an Instrument for Industrial Policy: The Case of China; Xiaobo Zhang 14. Theories of Agglomeration: Critical Analysis from a Policy Perspective; Célestin Monga PART IV: REGIONAL CASE STUDIES OF SUCCESSFUL AND UNSUCCESSFUL INDUSTRIAL POLICIES 15. Capability Failure and Industrial Policy to Move beyond the Middle-Income Trap: From Trade-based to Technology-based Specialized; Keun Lee 16. Comments on 'Capability Failure and Industrial Policy to Move beyond the Middle-Income Trap: From Trade-based to Technology-based Specialized; Ariel Fiszbein 17. What's New in the New Industrial Policy in Latin America? Robert Devlin and GracielaMoguillansky 18. Comments on 'What's New in the New Industrial Policy in Latin America?'; Carlos Alvarez V. PART V: COUNTRY CASE STUDIES OF SUCCESSFUL AND UNSUCCESSFUL INDUSTRIAL POLICIES 19. New Thinking on Industrial Policy Country Case Studies of Successful and Unsuccessful Industrial Policies: The Return of Industrial Policy in Brazil David Kupfer, João Carlos Ferraz and Felipe Silveira Marques 20. Industrial Policy and Development: Lessons from Brazil. Comments on the Paper by David Kupfer, João Carlos Ferraz and Felipe Silveira Marques; Volcker Treichel 21. The Chaebol and Industrial Policy in Korea; Wonhyuk Lim 22. Comments on 'The Chaebol and Industrial Policy in Korea'; Shahid Yusuf

Joseph E. Stiglitz, Columbia University, UK Justin Yifu Lin, Peking University, China Laura Alfaro Carlos Alvarez V, Organisation for Economic Co-operation and Development Centre Yaw Ansu, Africa Center for Economic Transformation (ACET) based in Accra, Ghana Pranab Bardhan, University of California, Berkeley, USA Ha-Joon Chang, University of Cambridge, UK Robert Cull, Development Research Group of the World Bank Robert Devlin, Johns Hopkins SAIS, USA Graciela Moguillansky, Universidad de Chile João Carlos Ferraz, Brazilian Development Bank (BNDES) Claudio Figueiredo Coelho Leal, Brazilian Development Bank (BNDES) Felipe Silveira Marques, Federal University of Rio de Janeiro, Brazil Marcelo Trindade Miterhof, Universidade Estadual de Campinas (Unicamp) Brazil Ariel Fiszbein Indermit Gill Mushtaq H. Khan, University of London, UK David Kupfer, Universidade Federal do Rio de Janeiro, Brazil Keun Lee, Seoul National University, South Korea Josh Lerner, Harvard Business School, USA Wonhyuk Lim, Korea Development Institute (KDI) Célestin Monga Volker Treichel Shahid Yusuf Bruce Greenwald, Columbia University, USA