Making Industrial Policy Work

The Return of Industrial Policy

Industrial policy is back.

Industrial Policy Comes Out of the Cold

Programme F.2 Industrial Policy and Research

Explicit industrial policies can be an even more potent instrument.

The third risk is that industrial policies run afoul of international commitments and obligations.

In fact, industrial policy never went out of fashion.

One thing is certain the policies proposed for industrialized countries are not applicable in our situation.

The real question about industrial policy is not whether it should be practiced, but how.

The industrial statistics component is intended to increase the use of industrial statistics in monitoring and analysing global and national industrial performances and trends by governments, the private sector and knowledge institutions, and to improve the capabilities in industrial statistics of national statistical offices.

And they have made little systematic use of explicit industrial policies that could act as a substitute for undervaluation.

Report of the Director General for Policy Planning (Statistical Standards) of the Ministry of Internal Affairs and Communications of Japan on industrial statistics

To guard against abuse and capture, industrial policy needs be carried out in a transparent and accountable manner, and its processes must be open to new entrants as well as incumbents.

But that potential will be realized only if governments actively pursue green industrial policies.

What determines success in industrial policy is not the ability to pick winners, but the capacity to let the losers go a much less demanding requirement.

We encouraged research based policies, even when that research was critical of policies being pushed by certain advanced industrial countries and by some in the Bank.

The great advantage of industrial policies is that they enable growth promoting structural change without generating trade surpluses.

The industrialized countries had a fundamental responsibility to pursue financial and macroeconomic policies which would deliver growth for all.

SAO PAULO Few economic ideas are more lauded and reviled than that of industrial policy.

Concretely, that means wage increases in Germany and industrial policies that promote exports and productivity in Europe s peripheral economies.

The moment of enlightenment came only when those policies also began inflicting costs on the US and other advanced industrial countries.

Industrial policy was a crucial issue, as no one could industrialize without developing an industrialization policy first.

The Programme will contribute towards reducing trade impediments, promote the harmonization of industrial, trade and technology policies, reduce bottlenecks for FDI and help to ensure conformity and compliance with industrial standards and environmental norms.

The United Nations Industrial Development Organization (UNIDO) provided support in the articulation of the African Productive Capacity Initiative, which was adopted by the African Union summit, in July 2004, as the policy framework for Africa's industrial development.

Thanks to policies introduced with the full support of the Member States, UNIDO had been strengthened and now excelled in promoting industrial development worldwide.

Greater use of industrial policies is the price to be paid for a reduction of macroeconomic imbalances.

The US government especially, but other governments as well, have gotten themselves deeply involved in industrial and financial policy during this crisis.

The goal of industrial policies is to identify these spillovers, and governments have done a very credible job in this respect.

But in other areas, such as trade, employment, or industrial policies, prevailing thinking is either naïve or non existent.

The historical experience of Germany and Japan, and the recent financial turmoil of the big industrialized countries, seems to warn against such a policy shift.

The world economy would have been better off with fewer restrictions on the use of industrial policies by China (and other developing countries).

The limited success of Brazil's industrial development policies over the past two decades could be explained by both internal and external factors.

Improving industrial performance, including harmonization of industrial policy in the cotton textile garment value chain through public private partnerships

In Vienna, he was an active participant in the day to day work of the policymaking organs of these organizations, chaired several major meetings of the International Atomic Energy Agency (IAEA) and United Nations Industrial Development Organization (UNIDO).

Their governments pursued not just good fundamentals (e.g., macroeconomic stability and an outward orientation), but also what might be called productivist policies undervalued currencies, industrial policies, and financial controls.

But, putting such successes aside, the point of industrial policy is not to pick winners at all. Rather, successful industrial policies identify sources of positive externalities sectors where learning might generate benefits elsewhere in the economy.

In this vein, Brazil s experience at promoting renewable fuels, beginning in the 1970 s, is directly relevant to today s polarized views of industrial policy.

Active policies are a way of reversing the negative effects of industrial restructuring in transition economies and to help integrate vulnerable people furthest from the labor markets.

He supported in particular the recommendations of the report, as they were holistic in their approach with the emphasis on strategic industrial policy, together with regional efforts for creating a better investment climate.

The Government of Uganda particularly acknowledged the role UNIDO had played in building national capacity for industrial policy development, effective governance and economic management.

Trade could not be undertaken at the expense of industrial development, and a shift from rhetoric to action was needed in order to ensure policy space for developing countries to confront poverty.

The real question about industrial policy is not whether it should be practiced, but how. Here are three important principles to keep in mind.

First, consumption has to give way smoothly to investment, as past excess capacity is worked off and as expansionary policies in industrial countries normalize.

(a) The General Conference, one of the three principal organs of UNIDO under Article 7.1 of the Constitution, which determines the guiding principles and policies of the Organization