The main purpose of industrial policy is to speed up the process of structural change towards higher productivity activities. This paper builds on our earlier writings to present an overall design for the conduct of industrial policy in a low- to middle-income country. It is stimulated by the...

The conventional paradigm about development banks is that these institutions exist to target well-identified market failures. However, market failures are not directly observable and can only be ascertained with a suitable learning process. Hence, the question is how do the policymakers know...

A collection of essays that explore the collapse of economic growth in Venezuela since the 1970s. Essays discuss the relevance of public investment, labor markets, fiscal policy, institutions, politics, and values. - Provided by publisher