This volume revisits the role of industrial policy, discussing the most effective use of industrial policies in learning economies, development finance, and promoting investment in regional and global contexts. Also included are in-depth case studies of Japan and India’s experience with industrial policy in the banking and private sector.

1. Learning, Industrial, and Technology Polices: An Overview, by Akbar Noman and Joseph E. Stiglitz Part 1: Theoretical and Conceptual Foundations 2. Industrial Policies in Learning Economies, by Mario Cimoli and Giovanni Dosi 3. Dynamic Efficiency: Structural Dynamics and Economic Growth in Developing Countries, by Jose Antonio Ocampo Part 2: Development Finance 4. Uncertainty, Investment, and Financing: The Strategic Role of National Development Banks, by Joao Carlos Ferraz 5. The Roles of Development Banks: How They Can Promote Investment in Europe and Globally, by Stephany Griffith-Jones and Giovanni Cozzi 6. Inside the Black Box of Japan's Institution for Industrial Policy: An Institutional Analysis of the Development Bank, Private Sector, and Labor, by Go Shimada 7. Development Banks and Industrial Finance: The Indian Experience and Its Lessons, by Deepak Nayyar Part 3: Practice and Proposals 8. Industrial Policy Revisited: A New Structural Economics Perspective, by Justin Yifu Lin 9. Varieties of Industrial Policy: Models, Packages, and Transformation Cycles, by Antonio Andreoni 10. Industrial Strategies: Toward a Learning Society for Quality Growth, by Akio Hosono 11. Could Technology Make Natural Resources a Platform for Industrialization? Identifying a New Opportunity for Latin America (and Other Resource-Rich Countries), by Carlota Perez 12. Manufacturing Development: The Role of Comparative Advantage, Productivity Growth, and Country-Specific Conditions, by Nobuya Haraguchi 13. Does Manufacturing Colocate with Intermediate Services? Analyzing the World Input-Output Database, by Ming Leong Kuan Acknowledgments Contributors Index

Learning and ideas are public assets; capital markets have deep problems in managing longer-term risk. That is enough to tell us that market structures and government policies around finance and technology are likely to be critical to growth in all economies whether more advanced or less advanced. That means that industrial policy matters. The challenge is how to do it well and in a way that fosters rather than hinders entrepreneurship and creativity. That is why this book is so important. It is full of insight and empirical investigation and covers a very broad range of countries and economies. It is an immensely valuable contribution. -- Nicholas Stern, London School of Economics and Political Science and President, British Academy An excellent addition to the literature on learning, industrial, and technology policies. The links between capabilities, learning and productivity are complex and unlikely to spontaneously emerge. Effective policies have to take into account differences in political contexts, capability levels and structures of national economies, as well as global institutions and opportunities. This book adds to our understanding of the complexity of these challenges as well as the necessity of addressing them. -- Mushtaq Khan, SOAS, University of London The works collected in the volume offer theoretical as well as comparative applied insights... Highly recommended. Choice