Manufacturing Miracles

Manufacturing Miracles

Author: Gary Gereffi

Publisher: Princeton University Press

Published: 2014-07-14

Total Pages: 433

ISBN-13: 1400862035

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Few observers of Mexico and Brazil in the 1930s, or South Korea and Taiwan in the mid-1950s, would have predicted that these nations would become economic "miracles" several decades later. These newly industrializing countries (NICs) challenge much of our conventional wisdom about economic development and raise important questions about international competitiveness and export success in manufacturing industries. In this volume economists, sociologists, and political scientists seek to explain the growth of the NICs in Latin America and East Asia and to reformulate contemporary development theory through an in-depth analysis of these two dynamic regions. Gary Gereffi and Colin I. Bradford, Jr., provide an overview of national development trajectories in Latin America and East Asia, while Barbara Stallings, Gereffi, Robert R. Kaufman, Tun-jen Cheng, and Frederic C. Deyo discuss the role of foreign capital, governments, and domestic coalitions in shaping development outcomes. Gustav Ranis, Robert Wade, Chi Schive, and Ren Villarreal look at the impact of economic policies on industrial performance, and Fernando Fajnzylber, Ronald Dore, and Christopher Ellison with Gereffi examine new agendas for comparative development research. Originally published in 1990. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.


The Return of the Policy That Shall Not Be Named: Principles of Industrial Policy

The Return of the Policy That Shall Not Be Named: Principles of Industrial Policy

Author: Reda Cherif

Publisher: International Monetary Fund

Published: 2019-03-26

Total Pages: 79

ISBN-13: 1498305563

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Industrial policy is tainted with bad reputation among policymakers and academics and is often viewed as the road to perdition for developing economies. Yet the success of the Asian Miracles with industrial policy stands as an uncomfortable story that many ignore or claim it cannot be replicated. Using a theory and empirical evidence, we argue that one can learn more from miracles than failures. We suggest three key principles behind their success: (i) the support of domestic producers in sophisticated industries, beyond the initial comparative advantage; (ii) export orientation; and (iii) the pursuit of fierce competition with strict accountability.


Does What You Export Matter?

Does What You Export Matter?

Author: Daniel Lederman

Publisher: World Bank Publications

Published: 2012-06-18

Total Pages: 153

ISBN-13: 0821384910

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Does what economies export matter for development? If so, can industrial policies improve on the export basket generated by the market? This book approaches these questions from a variety of conceptual and policy viewpoints. Reviewing the theoretical arguments in favor of industrial policies, the authors first ask whether existing indicators allow policy makers to identify growth-promoting sectors with confidence. To this end, they assess, and ultimately cast doubt upon, the reliability of many popular indicators advocated by proponents of industrial policy. Second, and central to their critique, the authors document extraordinary differences in the performance of countries exporting seemingly identical products, be they natural resources or 'high-tech' goods. Further, they argue that globalization has so fragmented the production process that even talking about exported goods as opposed to tasks may be misleading. Reviewing evidence from history and from around the world, the authors conclude that policy makers should focus less on what is produced, and more on how it is produced. They analyze alternative approaches to picking winners but conclude by favoring 'horizontal-ish' policies--for instance, those that build human capital or foment innovation in existing and future products—that only incidentally favor some sectors over others.


Mexico Since 1980

Mexico Since 1980

Author: Stephen Haber

Publisher: Cambridge University Press

Published: 2008-08-04

Total Pages: 0

ISBN-13: 0521846412

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This book addresses two questions that are crucial to understanding Mexico's current economic and political challenges. Why did the opening up of the economy to foreign trade and investment not result in sustained economic growth? Why has electoral democracy not produced rule of law? The answer to those questions lies in the ways in which Mexico's long history with authoritarian government shaped its judicial, taxation, and property rights institutions. These institutions, the authors argue, cannot be reformed with the stroke of a pen. Moreover, they represent powerful constraints on the ability of the Mexican government to fund welfare-enhancing reforms, on the ability of firms and households to write contracts, and on the ability of citizens to enforce their basic rights.


The Oxford Handbook of Industrial Policy

The Oxford Handbook of Industrial Policy

Author: Arkebe Oqubay

Publisher: Oxford University Press

Published: 2020-10-20

Total Pages: 912

ISBN-13: 0192607235

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Industrial policy has long been regarded as a strategy to encourage sector-, industry-, or economy-wide development by the state. It has been central to competitiveness, catching up, and structural change in both advanced and developing countries. It has also been one of the most contested perspectives, reflecting ideologically inflected debates and shifts in prevailing ideas. There has lately been a renewed interest in industrial policy in academic circles and international policy dialogues, prompted by the weak outcomes of policies pursued by many developing countries under the direction of the Washington Consensus (and its descendants), the slow economic recovery of many advanced economies after the 2008 global financial crisis, and mounting anxieties about the national consequences of globalization. The Oxford Handbook of Industrial Policy presents a comprehensive review of and a novel approach to the conceptual and theoretical foundations of industrial policy. The Handbook also presents analytical perspectives on how industrial policy connects to broader issues of development strategy, macro-economic policies, infrastructure development, human capital, and political economy. By combining historical and theoretical perspectives, and integrating conceptual issues with empirical evidence drawn from advanced, emerging, and developing countries, The Handbook offers valuable lessons and policy insights to policymakers, practitioners and researchers on developing productive transformation, technological capabilities, and international competitiveness. It addresses pressing issues including climate change, the gendered dimensions of industrial policy, global governance, and technical change. Written by leading international thinkers on the subject, the volume pulls together different perspectives and schools of thought from neo-classical to structuralist development economists to discuss and highlight the adaptation of industrial policy in an ever-changing socio-economic and political landscape.


Trade Policy and Industrialization in Turbulent Times

Trade Policy and Industrialization in Turbulent Times

Author: Gerald K. Helleiner

Publisher: Psychology Press

Published: 1994

Total Pages: 592

ISBN-13: 9780415107112

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With the relationship between trade policy and industrialization coming in for increasingly close scrutiny, this book assesses how far trade policy has promoted economic growth in fourteen developing countries in the 1970s and 1980s.


Industry, the State, and Public Policy in Mexico

Industry, the State, and Public Policy in Mexico

Author: Dale Story

Publisher: University of Texas Press

Published: 2014-10-01

Total Pages: 288

ISBN-13: 0292766459

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The industrialization process in Mexico began before that of any other nation in Latin America except Argentina, with the most rapid expansion of new industrial firms occurring in the 1930s and 1940s, and import substitution in capital goods evident as early as the late 1930s. Though Mexico’s trade relations have always been dependent on the United States, successive Mexican presidents in the postwar period attempted to control the penetration of foreign capital into Mexican markets. In Industry, the State, and Public Policy in Mexico, Dale Story, recognizing the significance of the Mexican industrial sector, analyzes the political and economic role of industrial entrepreneurs in postwar Mexico. He uses two original data sets—industrial production data for 1929–1983 and a survey of the political attitudes of leaders of the two most important industrial organizations in Mexico—to address two major theoretical arguments relating to Latin American development: the meaning of late and dependent development and the nature of the authoritarian state. Story accepts the general relevance of these themes to Mexico but asserts that the country is an important variant of both. With regard to the authoritarian thesis, the Mexican authoritarian state has demonstrated some crucial distinctions, especially between popular and elite sectors. The incorporation of the popular sector groups has closely fit the characteristics of authoritarianism, but the elite sectors have operated fairly independently of state controls, and the government has employed incentives or inducements to try to win their cooperation. In short, industrialists have performed important functions, not only in accumulating capital and organizing economic enterprises but also by bringing together the forces of social change. Industrial entrepreneurs have emerged as a major force influencing the politics of growth, and the public policy arena has become a primary focus of attention for industrialists since the end of World War II.


The Mexican Peso Crisis

The Mexican Peso Crisis

Author: Mr.Paul R. Masson

Publisher: International Monetary Fund

Published: 1996-01-01

Total Pages: 36

ISBN-13: 1451929099

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This paper examines credibility and reputational factors in explaining the December 1994 crisis of the Mexican peso. After reviewing events leading to the crisis, a model emphasizing the inflation-competitiveness trade-off is presented to explain the formation of devaluation expectations. Estimation results indicate that investors appear to have seriously underestimated the risk of devaluation, despite early warning signals. The collapse of confidence that followed the December 20 devaluation may have been the result of a shift in the perceived commitment of the authorities to exchange rate stability.