Econ9.29.10

Econ9.29.10 - Rodrik Jenkins Thuu? Ten Design Principles...

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Rodrik Jenkins Thuu? Ten Design Principles i.new ii.criteria iii.sunset clause iv.public support must target activities not sectors. Picking sectors is difficult because government cannot pick winners according to some v.activities must have potential of providing spillover and demonstration effects vi. industrial policy by agencies with demonstrated competence vii. implementing agency must be monitored closely by a principal who carries responsibility and who has authority viii. maintain channels of communication with the private sector ix. mistakes will occur x. promotion activities need the capacity to renew themselves Why is this reasonable? Separate research that supports one or more of these points Change in policy in one country accompanied by change in outcomes Common sense Experience? Hayek would call unorganized knowledge, expert gut feeling 3.Illustrations a.subsidize the cost of self-discovery contest: let private sector bid for public resources Industrial policy had a really bad name until Rodrik came along Amsden says that industrial policy works Everyone else says markets markets markets Jenkins A.Intro 4 phases: assembly-manufacturing ISI-export promotion-liberalisation
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Econ9.29.10 - Rodrik Jenkins Thuu? Ten Design Principles...

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