The Oxford Handbook of Industrial Hubs and Economic Development

2020 ◽  
Keyword(s):  
Economic Development ◽  
Structural Transformation ◽  
Latin American ◽  
Environmental Sustainability ◽  
Developing Economies ◽  
Economic Benefits ◽  
Complex Nature ◽  
Technological Advancement ◽  
High Concentration ◽  
Catch Up

Industrialization, supported by industrial hubs, has been widely associated with structural transformation and catch-up in developing, emerging, and advanced economies. There are about 6,000 industrial hubs spread across 147 countries, with a high concentration in emerging and developing economies, particularly in Asia. While the direct economic benefits (such as exports, employment, outputs, and revenues) of industrial hubs are significant, their value lies first and foremost in their contribution as incubators of industrialization, productive and technological capability, and innovation, which can facilitate sustained growth and the climbing of the development ladder. The Oxford Handbook of Industrial Hubs and Economic Development adopts an inter disciplinary approach to examine the conceptual underpinnings, reviews empirical evidence of regions and economies, and extracts pertinent lessons for policy researchers and practitioners on the key drivers of successes and failures of industrial hubs. Chapters contributed by eighty-two eminent authors are organized under seven themes: theories and methodologies; context and historical perspective; gender and environmental sustainability; policy and practices in Asian, Latin American, and African economies; and future pathways. The Handbook illustrates the diverse and complex nature of industrial hubs, and shows how industrial hubs promote industrialization, economic structural transformation, and technological catch-up. It explores the implications of emerging issues and trends such as environmental protection and sustainability, technological advancement, the shifts in the global economy, and urbanization. The concluding remarks emphasize the centrality of learning and latecomer advantage.

Industrial Hubs and Economic Development

2020 ◽  
pp. 1-14
Author(s):  
Arkebe Oqubay ◽  
Justin Yifu Lin
Keyword(s):  
Economic Development ◽  
Structural Transformation ◽  
Developing Economies ◽  
Economic Benefits ◽  
Policy Framework ◽  
High Concentration ◽  
Industrial Parks ◽  
Conceptual Clarity ◽  
Technology Parks ◽  
Catch Up

Industrialization, supported by industrial hubs, has been widely associated with structural transformation and catch-up in developing, emerging, and advanced economies. There are around 6,000 industrial hubs spread across 147 countries, with a high concentration in emerging and developing economies, particularly in Asia. While the direct economic benefits of industrial hubs are significant, their value lies first and foremost in their contribution as incubators of industrialization, productive and technological capability, and innovation, which can facilitate sustained growth and the climbing of the development ladder. This chapter introduces the three objectives of the volume: to examine the conceptual underpinnings and research methodologies associated with industrial hubs and economic development; to extract relevant lessons for policy researchers and practitioners from empirical evidence; and to provide alternative perspectives and approaches, embedded in an industrial policy framework, to economic structural transformation and technological catch-up. It will provide conceptual clarity around notions of the all-embracing term industrial hub, and widely used terms such as industrial districts, special economic zones, export-processing zones, technology parks, and industrial parks.

Foreign Direct Investment and Trade Related Intellectual Property Rights (TRIPS): The Case of Latin American & Caribbean Developing Economies

2018 ◽  
pp. 1-17
Author(s):  
Mumtaz Hussain Shah
Keyword(s):  
Economic Development ◽  
Intellectual Property ◽  
Property Rights ◽  
Intellectual Property Rights ◽  
Latin American ◽  
Developing Economies ◽  
Intellectual Property Right ◽  
Market Size ◽  
Annual Data ◽  
Macroeconomic Stability

The growing share of knowledge-intensive products in international trade and the increasing sensitivity of multinational firms to intellectual property theft make it imperative to analyse the effect of IPR promulgation on their FDI decision. In this perspective the current article gauge the importance of Trade Related Intellectual Property Rights (TRIPS) agreement under World Trade Organisation (WTO) in increasing a Latin American & Caribbean (LAC) developing economy’s appeal for investors from abroad. Infrastructure and skilled labour availability, market size, macroeconomic stability, economic development, and trade liberalization are also considered. Time-invariant phenomena such as access to the sea, regional affiliations/proximities, income groupings and ability to speak one of the international languages, though desirable were not done because fixed effect panel estimation technique does not permit the use of dummy variables. Due to the 2008-2009 recession in the developed economies, the available investment funds withered, making the investors’ sceptic apropos the safety of their tangible and intangible property, especially in the developing world, causing a decrease in FDI to these nations in general. However, LAC countries were somewhat resilient and received a steadily increasing flow of foreign investment. Thus, it demands to analyse the factors that overcame the overseas investors’ scepticism and prompted them to invest in the LAC region. By utilizing annual data for 28 years that is 1989-2016 from 24 LAC developing nations it is found that infrastructure and human capital availability, macroeconomic stability, economic development, strengthening and worldwide harmonization of intellectual property right standards through TRIPS positively effects the overseas investor's investment decision. The host population used to measure market size is found to be insignificant when tested with other conventional FDI location pull factors. Similarly, liberalization, consistent with horizontal FDI theory, exerts a significant negative effect on inward FDI.

Global Assertion, Soft and Hard

2020 ◽  
pp. 325-389
Author(s):  
Atul Kohli
Keyword(s):  
United States ◽  
Economic Development ◽  
Latin American ◽  
The United States ◽  
Economic Benefits ◽  
Washington Consensus ◽  
Post Cold War ◽  
Lost Decade ◽  
Latin American Countries ◽  
Roll Back

This chapter analyzes America’s global assertion in the post–Cold War period. This assertion has followed both economic and military pathways. The imposition of the Washington Consensus on Latin American countries is an example of economic assertion. The United States was moved in this direction to first rescue highly indebted American banks and then to roll back statist models of economic development in the region. Economic benefits to the United States were considerable. Latin American countries experienced a lost decade of growth, followed by some resumption of growth, but were still mainly dependent on commodity exports. Hard militarism in the Middle East has been motivated by goals that were vaguer but included establishing primacy over an oil-rich region. The results have been at best, mixed. The war in Iraq was very costly. A half million Iraqis died. The benefits to the United States are not obvious and Iraq struggles to be a functioning state under American influence.

scholarly journals The Effect of Renewable Energy Consumption on Sustainable Economic Development: Evidence from Emerging and Developing Economies

Energies ◽  
2019 ◽  
Vol 12 (15) ◽  
pp. 2954 ◽  
Author(s):  
Mun Ahmed ◽  
Koji Shimada
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Latin American ◽  
Developing Economies ◽  
Least Square ◽  
Renewable Energy Consumption ◽  
The World ◽  
The Caribbean

The objective of the paper is to figure out the nexus between renewable energy consumption and sustainable economic development for emerging and developing countries. In this paper, a panel of 30 emerging and developing countries is selected using the World Development Indicators (WDI) of the World Bank, Renewable Energy Country Attractiveness Index (RECAI) by Ernst and Young, and a random selection method based on the current trend of renewable energy consumption for five different regions of the world i.e., Asia, South-Asia, Latin America, Africa and the Caribbean. To achieve the objective, robust panel econometric models such as the Pesaran cross-section dependence (CD) test, second generation panel unit root test, e.g., cross-sectional augmented IPS test (CIPS) proposed by Pesran (2007), panel co-integration test, fully modified ordinary least square (FMOLS) and dynamic ordinary least square (DOLS) are applied to check the cross-sectional dependence, heterogeneity and long-term relationship among variables. The panel is strongly balanced and the findings suggest a significant long-run relationship between renewable energy consumption and economic growth for selected South Asian, Asian and most of the African countries (Ghana, Tunisia, South Africa, Zimbabwe and Cameroon). But for the Latin American and the Caribbean countries, economic growth depends on non-renewable energy consumption. Renewable energy consumption in the selected countries of these two regions are still at the initial stage. In case of the renewable energy consumption and CO 2 emissions nexus, for selected South Asian, Asian, Latin American and African countries both GDP and non-renewable energy consumption cause the increase of CO 2 emissions. For the Caribbean countries only non-renewable energy consumption causes the increase of CO 2 emissions. An important finding regarding renewable energy consumption-economic growth nexus indicates the existence of bi-directional causality. This supports the existence of a feedback hypothesis for the emerging and developing economies. In the case of renewable energy consumption- CO 2 emissions nexus, there exists unidirectional causality. This supports the existence of the conservation hypothesis, where CO 2 emissions necessitates the renewable energy consumptions. Based on the findings, the study proposes possible policy options. The countries, who have passed the take-off stage of renewable energy consumption, can take advanced policy initiatives e.g., feed-in tariff, renewable portfolio standard and green certificate for long-term economic development. Other countries can undertake subsidy, low interest loan and market development to facilitate the renewable energy investments.

Industrial Hubs and Economic Development

2020 ◽  
pp. 1120-1132
Author(s):  
Arkebe Oqubay ◽  
Justin Yifu Lin
Keyword(s):  
Economic Development ◽  
Global Economy ◽  
Learning By Doing ◽  
Urban Systems ◽  
Complex Nature ◽  
Infrastructure Development ◽  
Technological Advancement ◽  
Emerging Issues ◽  
History Of ◽  
Technology Policies

The history of economic development, with empirical evidence from late industrializers, shows that industrial hubs are catalysts in developing productivity gains, fostering linkage effects, economy of speed, and especially, technological and innovation capabilities. To achieve this outcome, effective policy and innovation are required, embedded in pragmatic approaches, growth and transformation perspectives, learning by doing, and targeted emulation. Industrial hubs policy is bound up with industrial and technology policies more broadly, and with urban systems, infrastructure development, skills formation, development of human capital, and national spatial policies. The discussions throughout this book have illustrated the diverse and complex nature of industrial hubs, and how industrial hubs can facilitate industrialization, structural transformation, and technological catch-up. This chapter reviews the key drivers of industrial hub successes and failures for the benefit of late latecomers. It explores the implications of emerging issues and trends such as environmental protection and sustainability, technological advancement, the shifts in the global economy, and urbanization. The concluding remarks emphasize the centrality of learning and latecomer advantage.

scholarly journals Structural Transformation around the World: Patterns and Drivers

2019 ◽  
Vol 36 (2) ◽  
pp. 1-31
Author(s):  
Kunal Sen
Keyword(s):  
Economic Development ◽  
Structural Transformation ◽  
Low Income ◽  
Developing World ◽  
Developing Economies ◽  
Stylized Facts ◽  
Conventional View ◽  
The World ◽  
Different Types ◽  
Productivity Gains

The conventional view of structural transformation is informed by three stylized facts of economic development: (i) all economies exhibit declining employment in agriculture, (ii) all economies exhibit a hump-shaped share of employment in industry, and (iii) all economies exhibit an increasing share of employment in services. In this paper, I show that this presumed path of structural transformation may no longer be the route to economic development in low-income economies. Classifying economies as either structurally developed, structurally developing, or structurally underdeveloped, I observe a different path of structural transformation in structurally underdeveloped economies in which workers are moving directly from agriculture to nonbusiness services, which as a sector does not have the same productivity gains as manufacturing. I also show that the mainstream approach is unable to explain the patterns of structural transformation observed in low-income developing economies. This suggests the need to rethink the theoretical premises behind much of the mainstream approach to structural transformation and to identify alternate causal mechanisms to explain the different types of structural transformation underway in the developing world.

Industrial Hubs and Economic Development

2020 ◽  
pp. 14-39
Author(s):  
Arkebe Oqubay
Keyword(s):  
Economic Development ◽  
Industrial Policy ◽  
Structural Transformation ◽  
Industrial Revolution ◽  
Theory And Practice ◽  
Policy Framework ◽  
Special Focus ◽  
Historical Perspectives ◽  
Economic Agglomeration ◽  
Catch Up

Industrial hubs are at the centre of economic development. However, the literature on industrial hubs is fragmented and characterized by diverse conceptual and methodological approaches. This chapter provides a synopsis of the literature on the theory and practice of industrial hubs and economic development drawn from various intellectual traditions. The chapter also reviews key themes drawn from structuralist development economics, with a special focus on industrial policy, structural transformation, and catch-up. The first section of this chapter provides an outline of the key approaches and issues. The second section discusses historical perspectives on industrial hubs and economic agglomeration starting from the early days of the first industrial revolution. The third section examines issues rooted in structural transformation and economic catch-up, and the connection between cluster dynamics and industrial policy framework. The fourth section maps empirical perspectives behind uneven global practices and outcomes, and on how industrial hubs can synergize industrialization and technological catch-up. The fifth section presents empirical synthesis and concluding notes.

scholarly journals Food and Agricultural Security: An Introduction to the Special Issue

2021 ◽  
Vol 13 (21) ◽  
pp. 12129
Author(s):  
Adesoji Adelaja ◽  
Justin George
Keyword(s):  
Sustainable Development ◽  
Food Security ◽  
Structural Transformation ◽  
Environmental Sustainability ◽  
Food System ◽  
Developing Economies ◽  
System Transformation ◽  
Special Issue ◽  
Important Indicator ◽  
Wide Range

Food and agricultural security are important elements of sustainable development, especially in developing countries. This is because progress in agriculture is fundamental to the structural transformation of developing economies while food security is an important indicator of progress made in economic development. Indeed, agricultural security and food security are intrinsically linked in the development process, as recognized by the Sustainable Development Goals (SDGs) of the United Nations. The nexus between food and agricultural security is so vast. This special issue only attempts to highlight two important dimensions: (a) the role of resilience in mitigating the impacts of shocks on food and agricultural security and (b) unique challenges faced in sustainable agriculture development and the analysis of best practices. The other nine articles in this special issue cover a wide range, including (a) food security, sustainability and the achievement of SDG goals; resilience and conflict; forced displacement and agriculture; and shocks and structural transformation in sub-Saharan African (SSA) countries; and, beyond SSA, (b) food self-sufficiency, public perceptions about good agricultural practices, environmental impacts of alternate crops, gender issues in agroforestry systems and food system transformation. Collectively, these articles highlight the link between food and agriculture security, environmental sustainability and resilience.

Between Modernization and Stagnation: Economic Policy in 2012

2013 ◽  
pp. 4-23 ◽  
Author(s):  
V. Mau
Keyword(s):  
Economic Policy ◽  
Economic Development ◽  
Russian Economic Development ◽  
Structural Transformation ◽  
Economic Performance ◽  
Historical Analysis ◽  
Oil Boom ◽  
The World

The paper deals with the trends in the world and Russian economies towards development of a new post-crisis system, including technological and structural transformation. Three main scenarios of Russian economic development (conservative, innovation and acceleration) are discussed basing on historical analysis of Russian economic performance since 1970-s when oil boom started. On this basis key challenges of economic policy in 2013 are discussed.

Agrarian receipts as a tool for the structural transformation of financial and credit relations in the agrarian business of the region

2019 ◽  
pp. 40-53
Author(s):  
Yuliia Nehoda
Keyword(s):  
Comparative Analysis ◽  
Retrospective Analysis ◽  
Structural Transformation ◽  
Pilot Project ◽  
Bank Lending ◽  
Economic Benefits ◽  
Advantages And Disadvantages ◽  
New Instrument ◽  
Agricultural Business ◽  
Business Entities

The subject of the research – is a set of organizational-economic relations arising in the process of structural transformation of financial and credit relations in the agricultural business. The purpose of the article is a retrospective analysis of structural transformations of financial and credit relations in the agricultural business, evaluation of the effectiveness and feasibility of the introduction of agricultural receipts as a new instrument of lending to the agricultural business of the regions. Methodology of work – system-structural and comparative analyzes (to determine the effectiveness of the crediting mechanism according to the agricultural receipts of the farmers of the region); monographic (when studying the problems of the functioning of the mechanism of lending to agrarians by agrarian receipts) economic analysis (when carrying out a comparative analysis of the mechanism of classical bank lending to the agrarian business and the mechanism of lending to agrarians according to agrarian receipts); modeling and forecasting (when determining ways to overcome the existing deficiencies in the mechanism of lending to agrarian business entities of the region according to agrarian receipts). The results of the work – a retrospective analysis of the structural transformation of financial and credit relations in the agricultural business was carried out. The mechanism of crediting agrarians according to agrarian receipts and the scale of its distribution in the agrarian business of the region are considered. A comparative analysis of the mechanism of classical bank lending to the agrarian business and the mechanism of lending to agrarians according to agrarian receipts was carried out. In the framework of the pilot project “Agrarian receipts in Ukraine” of the international financial corporation (IFC) in partnership with the Swiss Confederation in Ukraine, the example of the Poltava region defined the effectiveness of the crediting mechanism according to the agrarian receipts of the agrarians of the region. The advantages and disadvantages of the mechanism of crediting the subjects of the agrarian business on agrarian receipts are noted. The ways to overcome the existing shortcomings of the mechanism of crediting the subjects of the agrarian business of the region according to agricultural receipts are determined. Conclusions – according to the results of the conducted research, the effectiveness of the mechanism of lending to the agricultural business of the regions according to agricultural receipts was proved, its advantages and disadvantages were noted, and attention was also focused. Proposed in Art. 7 of Law No. 5479-VI clearly delineate cases and restrictions on the debtor’s reimbursement of expenses incurred by the lender with the acquisition of the right to grow and harvest the pledged crop of agricultural products, which will ensure the principle of equality of parties on economic benefits and distribution of credit risks according to agricultural receipts.

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