Economic Planning And Industrial Policy In The Globalizing Economy

This book discusses national development planning in the context of a globalized world economy. National economic development planning, the process of defining strategic economic objectives for a country and designing policies and institutional frameworks to attain them, was popular in many countries in the 1960s and 1970s. Over time it lost its appeal. More recently, with globalization accelerating and economic competition increasing, it is making a comeback in different countries under different forms. National planning in this new era is different than the earlier quantitative planning approaches. It employs different tools, such as strategic visions and action plans, revived forms of physical infrastructure planning, industrial policy, and cluster policy. Built on the research of international scholars with firsthand knowledge of the countries in question, this volume presents and evaluates current national planning strategies and policy worldwide. It will be of interest to both academicians who study and teach globalization and development as well as policy makers who may use it as a reference as they contemplate their own strategies.

Globalization reigns supreme as a description of recent economic transformation--and it carries many meanings. In the policy realm, the orthodox terms of engagement have been enshrined in the "Washington consensus." But disappointing results in Latin America and transitional economies--plus the Asian financial crisis--have shaken the faith in Washington and elsewhere. One response has been to hark back to the more statist policies that the consensus marginalized. In this regard, Japan, Korea, and Taiwan are promoted as the poster nations that have derived great benefits from increasing integration with the international economy, without surrendering national autonomy in the economic or cultural spheres, effectively beating the West at its own game. The fundamental questions addressed in this monograph are whether industrial policy was indeed a major source of growth in these three economies, and if so, can it be replicated under current institutional arrangements, and if so, is it worth replicating, or, would developing countries today be better off embracing the suitably refined orthodoxy?

This book represents the manifestation of a long-term effort to explore the multifaceted impact of neo-liberal globalisation on institutional reform in the developing world, with special reference to the transformation trajectory of State Planning Organisation in Turkey. Analytically, it strives to locate the in-depth analysis of Turkish development planning and the changing fortunes of the State Planning Organisation within the broader context of the 'states versus markets' debate in the political economy literature in order to assess the technical viability and institutional manifestations of development planning under the profound and ever increasing pressures of globalisation. To this end, a comparative institutional theoretical framework is adopted which engages critically with the neo-classical/neo-liberal approach to macroeconomic policy making, and gauges the potential influence of domestic institutional structures in generating effective responses to changes in global economy.

Development and Modern Industrial Policy in Practice provides an up-to-date analysis of industrial policy. Modern industrial policy refers to the set of actions and strategies used to favor the more dynamic sectors of the economy. A key aspect of moder

‘Judge Knot’ explores the biggest and the most controversial success story in international law: investor-state dispute settlement, or ISDS. Since 1990, investors have launched hundreds of claims against government regulation. This exclusive inside look explains what makes the system tick: its poorly understood centuries-old origins, why corporations demand investment law solutions to political problems, how arbitrators supply these solutions, and why the system lasts despite the many politicians and citizens unhappy with it. Building off of an unprecedented set of interviews with the arbitrators who actually decide the cases, ‘Judge Knot’ brings together the best of political science, law and development economics scholarship and offers a concrete alternative to ISDS that leverages what works about the system and discards what does not, so that international law can be more supportive of democracy and development goals.

The global economy has transformed during the last few decades. Though the changes have benefited some, many mature industrial economies (MIEs) have not been treated well by the changes they have seen and have been forced to adapt to dramatically changed circumstances. In this collection of original papers, economists and geographers from Asia, North America and Europe examine the policy initiatives that have succeeded in their countries. The analyses address issues such as local, state and federal governance, aging populations, inter-city cooperation and loss of dominant firms. Additionally, the authors discuss policy issues such as industrial tourism, the roles of education, knowledge and culture, and repositioning a regions place in the global economy. The volume also includes an empirical estimation of the competitiveness of major cities. The contributors to this book hold that it is possible for the overwhelming majority of MIEs to shape their policy in such a way that many of the objectives that will yield the most prosperity will fall within their reach. In that spirit, this book offers the elements for generating economic strategies for mature industrial economies. Suggesting frontier polices to help cities chart a course for future developmental success, this stimulating work is ideally suited to economists, policymakers, city planners, students and scholars of business, economics, urban studies and public policy, and all those concerned with creating equity for the cities of tomorrow.

Bringing together renowned scholars in the field with younger researchers, this interdisciplinary study of the history of post-war industrial policy in Europe investigates transfers across borders and locates industrial policy in the context of the Cold War from a global perspective.

This collection of contemporary essays addresses the imposing changes occurring in the global economy and presents thoughtful policy options for managing them. The debate among these experts vividly illustrates the dimensions and consequences of the new global economy for the U.S. population and suggests appropriate policies for mitigating its impact. Contrasting perspectives on the origin and trends of the current international economic order are offered. Each contributor presents a complex position in nontechnical terms and with helpful examples. The result is a work accessible to readers from a variety of professions.

Entrepreneurs have long been drivers of innovation in developed countries. They start companies and create new industries that keep economies strong and prosperous. Today, however, in developing nations such as China, state-controlled economies are building robust industries at stunning speed and siphoning off jobs from the West. How can entrepreneurs function in the face of this challenge? Can they continue to create economic value in a globalized business environment? This book addresses the crucial issue of state planning vs. free enterprise and examines specific problems surrounding entrepreneurship in the global economy through nine case histories of entrepreneurial companies. It also looks at how and why government gets involved in economic growth and how entrepreneurs contribute to economic value. Based on this analysis, the authors argue that companies can succeed, even in controlled economies, by understanding the customs and policies of countries where they do business.

"Members of the anti-globalization movement will find the explanations given in this book insightful, as will employees of international organizations due to the important policy messages. The theoretical interest within the book will appeal to development economists and evolutionary economists, and policymakers and politicians will find the explanations of the present failure of many small nations in the periphery invaluable."--BOOK JACKET.