Industrial policy is back. Advocates for industrial policy argue that the important question is not whether such policies should be applied at all, but how to design and implement them. For the extractive industries this development poses a challenge. First, there is the argument that host...

Measures of institutional quality are strong predictors of cross-country differences in income and productivity. The institutional economics literature has long maintained that one way institutions influence economic growth is by impacting the efficient allocation of production factors across...

This paper investigates how the sector-specific source or the changing sectoral composition of labor productivity has contributed to β-convergence, using a newly constructed eightsector database. The main findings are twofold. First, both within and sectoral reallocation have become important...

What would a "good" industrial policy in the realm of cotton production look like? This article seeks to address this question through a focus on reforms to the cotton sector in Kazakhstan. In contrast with neighbouring Uzbekistan and Turkmenistan, administrators in Kazakhstan had widely freed...

Global Value Chains (GVCs) started to play an increasing and key role in the global economy from the 1990s on. The market mechanism in GVCs supports industrialisation in the Global South and under certain conditions product and process upgrading. But GVCs do not lead to the catching-up of...

Industrialization is vital for inclusive and sustainable global development. The two engines of industrialization - innovation and trade - are in danger of being compromised by the COVID-19 pandemic, under conditions increasingly reminiscent of the medieval world. It comes at a time when...

Industrialization is vital for inclusive and sustainable global development. The two engines of industrialization - innovation and trade - are in danger of being compromised by the COVID-19 pandemic, under conditions increasingly reminiscent of the medieval world. It comes at a time when...

Innovation is an important source of economic growth. It increases productivity and creates wealth by freeing up resources to be used for other activity and hence more output. Despite its economic importance, innovation is still not fully understood and is difficult to predict. In pre-modern...

This article reviews the key industrial policy issue areas under negotiation in the mega-free trade agreements and evaluates the likely developments flowing from these agreements in terms of their impact on the international trading system. Based on this review, it discusses the likely future...