In order to continue on the path to convergence with advanced countries, emerging countries need to strengthen their research capabilities. Often they try to do this through the development of strategic industries. The objective of this paper is to contribute to the debate on the effectiveness...

Introduction: the art of engineering prosperity in unlikely places -- The tyranny of litanies -- Unpleasant truths about institutional and financial development -- The economics of chance: policy prescriptions as laundry lists -- The mechanics of failure and the secrets of success -- Ambitious...