How Nations Succeed: Manufacturing, Trade, Industrial Policy, and Economic Development

Released on by Murat A. Yülek
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  • How Nations Succeed: Manufacturing, Trade, Industrial Policy, and Economic Development Book Detail

  • Author : Murat A. Yülek
  • Release Date : 2018-08-02
  • Publisher : Springer
  • Genre : Business & Economics
  • Pages : 304
  • ISBN 13 : 9811305684
  • File Size : 69,69 MB
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How Nations Succeed: Manufacturing, Trade, Industrial Policy, and Economic Development by Murat A. Yülek PDF Summary

Book Description: This book assesses developmental experience in different countries as well as British expansion following the industrial revolution from a developmental perspective. It explains why some nations are rich and others are poor, and discusses how manufacturing made economies flourish and spur economic development. It explains how today’s governments can design and implement industrial policy, and how they can determine economically strategic sectors to break out of Low and Middle Income Traps. Closely linked to global trade and (im)balances, industrialization was never an accident. Industrialization explains how some countries experience export-led growth and others import-led slowdowns. Many confuse industrialization with the construction of factory buildings rather than a capacity and skill building process through certain stages. Industrial policy helps countries advance through those stages. Explaining technical concepts in understandable terms, the book discusses the capacity and limits of the developmental state in industrialization and in general in economic development, demonstrating how picking-the-winner type focused industrial policy has worked in different countries. It also discusses how industrial policy and science, technology and innovation policies should be sequenced for best results.

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Industrial policy has long been regarded as a strategy to encourage sector-, industry-, or economy-wide development by the state. It has been central to competi