In this paper, we study the impact of government's budget constraint on the optimal industrial policy in industries with increasing returns to scale. We show that privatization is preferred to regulation for intermediate values of the shadow cost of public funds (i.e., the Lagrange multiplier of...

With rapid industrial upgrading along the global value chain of manufactured goods, China has transformed, within one generation, from an impoverished agrarian society to a middle-income nation as well as the largest manufacturing powerhouse in the world. This article identifies the pattern of...

China has shifted control over resources and decision making to local governments and enterprises as the result of the economic reforms over the past three decades. This devolution of decision-making to local levels and enterprises has placed environmental stewardship in the hands of local...

This study discusses four cases of public-private collaboration (PPC) in the design and implementation of productive development policies (PDP) in Argentina. We find that PPCs have contributed to the success of most of the studied PDPs by facilitating information sharing and creating...

Public-private collaboration in productive development policy in Costa Rica frequently takes the form of policy co-governance: an autonomous institution in charge of policy for a particular economic sector is created, with a board of directors comprising representatives from both the public and...