Development and Modern Industrial Policy in Practice

Publication | April 2015

A key aspect of modern industrial policy is embedding private initiative in a framework of public action to encourage diversification, upgrading, and technological dynamism to achieve development in the twenty-first century.

The book reviews key questions that policymakers ask about industrial policy, such as:

• who selects sectors
• what is the rationale for sector selection
• what are the main tools to promote sectors
• what is the role of human capital, and
• what are the mechanisms for monitoring and evaluation.

Expert contributors discuss how to undertake industrial policy effectively and examine the experiences of Australia, the European Union, the Republic of Korea, Malaysia, and the United States.

This publication is copublished with Edward Elgar. For orders, please contact Edward Elgar Publishing.


  • Modern industrial policy
  • Issues in modern industrial policy (I): sector selection, who, how, and sector promotion
  • Issues in modern industrial policy (II): human capital and innovation, and monitoring and evaluation
  • Capability building and industrial diversification
  • Industrial policy design and implementation challenges
  • Catching up: structural transformation and diversification
  • Economic diversification: implications for Kazakhstan
  • Industrial diversification in the People’s Republic of China
  • Do as I say, or as I do? US innovation and industrial policy since the 1980s
  • The Republic of Korea’s financial support for small and medium-sized enterprises and venture businesses
  • Industrial policy: the Australian experience
  • Diversification and industrial policies in Malaysia
  • Industrial policy in the European Union
  • Appendix

Additional Details

  • Economics
  • Industry and trade
  • China, People's Republic of
  • Kazakhstan
  • Korea, Republic of
  • Malaysia
  • 978-1-78471-553-3 (print)
  • 978-1-78471-554-0 (electronic)

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