To help explain the common failure of oil or other natural resource exporting countries to diversify into industry, it has been common to trace this failure to real exchange rate appreciation. This has also been done in Azerbaijan. However, because Azerbaijan has devoted so much of its oil...

This paper first show that South Korea's industrial targeting in the name of heavy and chemical industry drive in the 1970s managed to produce industries with international competitiveness over time. It then performs ex post cost-benefit analysis to show that industrial targeting in Korea has...

To help explain the common failure of oil or other natural resource exporting countries to diversify into industry, it has been common to trace this failure to real exchange rate appreciation. This has also been done in Azerbaijan. However, because Azerbaijan has devoted so much of its oil...

The process of economic reforms launched in 1978, and gradually extended until current days, has catapulted China into a stellar growth trajectory that has proven highly resilient. In this paper, we estimate the effect on economic development of China's industrial policy, in particular, the...

The chemical accident in Fujian Province in April 2015 and frequent winter smog that often covers a large number of eastern Chinese cities have resulted in policy debates similar to the one held 10 years ago. The topic of these debates is, “Does China need to change its industrialization...

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...

In order to vitalize the domestic economy, the new Korean government adopted the economic concept of the ‘Creative Economy (afterwards, CE)’, which is accompanied by various interpretations. In fact, the CE can have many different approaches in accordance with aims and targets, whether they...

This paper investigates the causes underlying the tragic story of Korea's bicycle industry from what appeared to be as competitive as Taiwan's up until the 1970s to its complete dissolution and collapse. Whereas Taiwan went on to overtake Japan as the world's number one bicycle exporter by 1980,...

Discourse on industry development and policy practice in late industrialization countries in East and Southeast Asia has predominantly tended to relate the emergence of new industries to ‘creation’ by the state and thereby to the role of state intervention or involvement in industrial growth...

We study whether the effects on registered manufacturing output of dismantling the License Raj – a system of central controls regulating entry and production activity in this sector – vary across Indian states with different labor market regulations. The effects are found to be unequal...