Newer approaches of industrial policy that focus on catalytic and facilitating interventions of government have become a rivalling model to neoclassical laissez-faire approaches. Inspired by the success stories of East Asian newly industrialised economies (NIEs), newer approaches advocate a more...

Using a strategy of export-led growth and an activist industrial policy, Japan, the Asian Tigers and more recently China have attained high rates of economic growth. Export-led growth has taken over the status as model for developing countries' economic development from the formerly prevailing...

During the past two decades, the “Washington Consensus” has been the dominant recipe for unleashing economic growth in developing countries. In view of the strong criticism mounted against it, it seems to have lost prominence recently. The success of the East Asian newly industrialized...

Cluster policy has become a method of choice for policymakers in many countries. Promoting strong localized industries is an appealing perspective for practitioners, as it can be seen as a way to anchor economic activity in regions in an era of globalization. If cluster policy is successful, it...

The development of Abu Dhabi and Dubai during past years seems breathtaking. Both emirates pursue a strategy of diversifying their economic structure and thus of becoming less dependent on oil and gas. The obvious goal is to secure their prosperity for an era beyond oil. Diversification is a...

Underlying Greece's public debt crisis is a fundamental economic problem: its lack of international competitiveness. While in the short term the debt crisis must be solved, in the long term the economic perspective of the country will depend on whether it will succeed in developing competitive...

Cluster policy has gained remarkable prominence in regional and sectoral structural policy in industrialized countries. Instead of compensating for weaknesses it focuses on strengths in the local and regional economic structure. In Germany, handing out regional development funds in competitions...

Cluster policy has become a method of choice for economic policymakers in many nations and regions in both industrialized and developing countries. Since the beginning of the 1990s, the policy is being perceived by politicians and practitioners as a way to anchor economic activity in locations...

Export-led growth has gained considerable prominence as a model for economic development since its use by East Asian newly industrializing countries. Thus, the question of how it can be used by other countries wishing to industrialize and under what circumstances it can lead to the take-off of...

Cluster policy has become a method of choice for policymakers in many countries. Promoting strong localized industries is an appealing perspective for practitioners, as it can be seen as a way to anchor economic activity in regions in an era of globalization. If cluster policy is successful, it...