A Cluster-Based Industrial Development Policy for Low-Income Countries

42 Pages Posted: 20 Apr 2016

See all articles by Keijiro Otsuka

Keijiro Otsuka

National Graduate Institute for Policy Studies (GRIPS)

Tetsushi Sonobe

National Graduate Institute for Policy Studies

Date Written: June 1, 2011

Abstract

The need to construct an effective strategy for industrial development in low-income countries has been largely ignored by development economists because industrial policies have failed in many developing countries. This does not imply, however, that industrial development cannot be promoted. This paper attempts to synthesize the conventional wisdom in development economics with recent advancements in various fields of economics (such as theories of endogenous growth and agglomeration economies) to provide a useful framework to design a strategy for industrial development, which consists of investments in managerial human capital followed by the provision of credit and the construction of industrial zones.

Keywords: Economic Theory & Research, Labor Policies, ICT Policy and Strategies, Access to Finance, Political Economy

Suggested Citation

Otsuka, Keijiro and Sonobe, Tetsushi, A Cluster-Based Industrial Development Policy for Low-Income Countries (June 1, 2011). World Bank Policy Research Working Paper No. 5703, Available at SSRN: https://ssrn.com/abstract=1871600

Keijiro Otsuka (Contact Author)

National Graduate Institute for Policy Studies (GRIPS) ( email )

7-22-1 Roppongi,Minato,
Tokyo 106-8677
Japan

Tetsushi Sonobe

National Graduate Institute for Policy Studies ( email )

7-22-1 Roppongi
Minato-ku
Tokyo, 106-8677
Japan

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