Industrial Policy in an Era of Globalization

by Noland, Marcus; Pack, Howard

• ISBN13: 9780881323504
• ISBN10: 0881323500
• Format: Paperback
• Copyright: 2003-03-01
• Publisher: Peterson Inst for Intl Economics

Author Biography

Marcus Noland, senior fellow at the Institute for International Economics, was a senior economist at the Council of Economic Advisers and held research or teaching positions at Johns Hopkins University, University of Southern California, Tokyo University, Saitama University, University of Ghana, Korea Development Institute, and East-West Center Howard Pack has been a professor of economics and professor of business and public policy at the Wharton School since 1986 and professor of management there since 1995. He was a consultant at a number of institutions including the World Bank, the Asian Development Bank, the Inter-American Development Bank, the Agency for International Development, and the Overseas Development Council. He was a fellow at the Harry S. Truman Institute for Peace Research at the Hebrew University, Jerusalem, and the Jerusalem Institute for Israel Research at the same university

Table of Contents

Preface	p. ix
Acknowledgments	p. xi
Introduction	p. 1
Definition	p. 10
Initiation and Maintenance of Industrialization	p. 11
The Case for Selective Industrial Policy	p. 15
Industrial Policies in Japan, Korea, and Taiwan	p. 21
Industrial Policies: Some Preliminaries	p. 21
Industrial Policy in Japan	p. 23
Industrial Policy in Korea	p. 37
Industrial Policy in Taiwan	p. 51
Exports, Growth, and Productivity	p. 57
Total Factor Productivity Growth	p. 63
Unintended Consequences	p. 67
Political Economy	p. 67
Long-Term Use May Be Hazardous to One's Health	p. 69
Corruption	p. 72
Replicability	p. 77
Stability and Complexity	p. 77
Irreproducible Initial Conditions?	p. 78
Geography Is Not Destiny--Policy Matters	p. 83
Does the International System Now Constrain Industrial Policy?	p. 88
Conclusions	p. 93
Final Thoughts	p. 100
References	p. 103
Index	p. 111
Tables
Human Capital Index and per capita income, mid-1950s	p. 25
Capital subsidy-investment ratio in Japan	p. 27
Government subsidy share of total research and development in Japan	p. 30
Effective rates of protection for Japan	p. 31
Impact of industrial policy on sectoral growth, capital accumulation, and total factor productivity in Japan, 1960-90	p. 35
Normalized sectoral tax rates in Japan	p. 37
Science and engineering students	p. 40
Impact of industrial policy on value added, growth rate of capital stock, and sectoral total factor productivity in Korea, 1963-83	p. 45
Intersectoral purchases, Korea, 1985	p. 50
Purchases of domestically produced and imported machinery, Korea and Japan	p. 51
Distributional indicators, circa 1960	p. 83
Export similarity, 1968	p. 84
Rates of growth of total factor productivity	p. 86
Rates of growth of fixed capital stock	p. 87
Figures
Sectoral composition of on-budget subsidies in Japan, 1955-80	p. 26
Uses of FILP funds in Japan, 1955-98	p. 27
Human capital accumulation, 1960-86	p. 39
Rates of return on capital in Korea	p. 43
Export loan subsidy in Taiwan	p. 53
Average tariff burden in Taiwan	p. 54
Research and development in Taiwan, 1978-2000	p. 56
Corruption rankings for Japan, Korea, and Taiwan	p. 73
Governance rankings for Japan, Korea, and Taiwan	p. 73
Endowment triangle: Labor, physical capital, land	p. 80
Endowment triangle: Labor, human capital, land	p. 80
Endowment triangle: Land, physical capital, human capital	p. 81
Endowment triangle: Labor, physical capital, human capital	p. 81
Table of Contents provided by Ingram. All Rights Reserved.