Ann Harrison of Wharton School, University of Pennsylvania reviews, “Industrial Policy and Development: The Political Economy of Capabilities Accumulation” by Mario Cimoli, Giovanni Dosi and Joseph E. Stiglitz. The EconLit Abstract of this book begins: “ Nineteen papers explore state intervention in industry and markets, focusing on successful industrial policies and interventions. Papers discuss institutions and policies shaping industrial development—an introductory note; technological learning, policy regimes, and growth—the long-term patterns and some specificities of a “"globalized'' economy; emulation versus comparative advantage—competing and complementary principles in the history of economic policy; industrial policies in developing countries—history and perspectives; industrial tariffs, international trade, and development; the (slow) return of industrial policies in Latin America and the Caribbean; the different capabilities of east Asia and Latin America to “"demand-adapt'' and “"supply-upgrade'' their export productive capacity; microeconomic evolution in high uncertainty contexts—the manufacturing sector in Argentina; the impact of public policies in Brazil along the path from semistagnation to growth in a Sino-centric market; the past, present, and future of industrial policy in India—adapting to the changing domestic and international environment; growth and development in China and India—the role of industrial and innovation policy in rapid catch-up; the political economy of industrial policy in Asia and Latin America; the roles of research at universities and public labs in economic catch-up; nationality of firm ownership in developing countries—who “"crowds out'' whom in imperfect markets; a question of trust—historical lessons for current development; competition policy and industrial development; latecomer entrepreneurship—a policy perspective; intellectual property and industrial development—a critical assessment; and the future of industrial policies in the new millennium—toward a knowledge-centered development agenda. Cimoli is with the United Nations Economic Commission for Latin America and the Caribbean and the Department of Economics at the University of Venice (Ca Foscari). Dosi is Professor of Economics at the Sant'Anna School of Advanced Studies, Pisa. Stiglitz is University Professor at Columbia University and Co-President of the Initiative for Policy Dialogue. Index.
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