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Perspectives on Global Development 2013

Industrial Policies in a Changing World

image of Perspectives on Global Development 2013

First launched in 2010, Perspectives on Global Development (PGD) is OECD’s annual publication on emerging development issues. The PGD takes the new geography of economic growth, poverty and power as a point of departure. Each year, the report identifies, analyses and provides evidence and policy solutions to the most pressing global development challenges in the new multipolar world. It provides an overview of global trends and structural transformations in the world economy and informs policy makers in developing countries on the implications in the formulation and implementation of national policies. Each year, the report focuses on a different topic covering diverse socio-economic facets of development from trade, development finance, infrastructure, production development and innovation to gender, employment, migration, fiscal and social policies.

During the past decade, the global economic centre of gravity has shifted eastwards and southwards, creating new opportunities for economic co-operation, trade and investment but also new challenges. This “shifting wealth” is a game changer for economic policy and is at the centre of the first three editions of the Perspectives on Global Development, which document the phenomenon (PGD 2010) and analyse its implications for social cohesion (PGD 2012) and productive growth strategies (PGD 2013).

English Chinese, French

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Emerging issues in implementing industrial policy in developing economies

OECD Development Centre

This chapter sketches out some of the major issues that developing economies face in implementing industrial policy in the new global economic landscape. It highlights that: i) empowered institutions and performance-based incentives help to deal with the risks of capture; ii) promotion of innovation, start-ups and cluster development are increasingly used as mechanisms to support production upgrading and transformation; iii) empowering regions increases the effectiveness of industrial policy; iv) sustainable development opens opportunities for developing countries, but specific policy measures are needed; v) monitoring and evaluation mechanisms need to be in place to improve policy implementation and design.

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