Investment has always played an important role in the economic development strategies of the People's Republic of China. A major reform of the investment system in 2004 shifted the state's focus from direct investment control to industrial policies designed to promote investment in specific...

Lately, as the U.S.-China trade war has developed into a scramble for market dominance in the fourth industrial revolution, China’s development of new industries associated with fourth industrial revolution technologies is gaining more attention. China has already reached globally-competitive...

The present work focuses its attention in the rol that has carried out the Korean State in the promotion of the industrial development. The government intervention has given place to changing relationship modalities between the State and the industrial conglomerates. The success of the Korean...

African countries are facing great opportunities but also formidable challenges in accelerating economic growth and sustaining a high level of economic performance. The experiences of East Asian countries may offer valuable insights for African leaders and governments in making concerted efforts...

This article examined the issue of whether or not the currency exchange rate, country risk, and cooperate tax rate affect decisions of multinational firms to invest in industrial clusters. First, if the exchange rate between a multinational company in an industry of diminishing returns to scale...

This policy report stakes a stance on industrial policy in the European Union in the light of the revived interest in the subject and the most pressing challenges ahead. In the current global context these challenges are: (i) to keep pace at the technology frontier with the technologically most...

I study the impact of industrial policy on industrial development by considering a canonical intervention. Following a political crisis, South Korea dramatically altered its development strategy with a sector-specific industrial policy: the Heavy and Chemical Industry (HCI) drive, 1973-1979....

Today, countries around the world are seeking "smart" innovation-led growth, and hoping that this growth is also more "inclusive" and "sustainable" than in the past. This paper argues that such a feat requires rethinking the role of government and public policy in the economy - not only funding...

Although it is little known at least among economists, central banks in industrial countries became involved with industry in the past and particularly after the First World War. This was at least the case in Italy and Britain where central banks provided long-term finance to ailing firms and...

Today, countries around the world are seeking "smart" innovation-led growth, and hoping that this growth is also more "inclusive" and "sustainable" than in the past. This paper argues that such a feat requires rethinking the role of government and public policy in the economy--not only funding...