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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).

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The political economy of industrial policies

OECD Development Centre

Not only is a strategic and integrated framework important for the effectiveness of industrial policies but so, too, are the political willingness and institutional arrangements that will govern the design and implementation of these policies. This chapter looks into the political economy of industrial policies. Their success will depend on the capacity of governments to open political spaces for dialogue with essential stakeholders such as the private sector. It will also require building institutional capabilities and ensuring co-ordination between the different institutional players involved in the design and implementation of these policies. Critical elements of the design of a credible industrial development plan include the need to secure stable sources of funding, to define clear mandates and a governance scheme that foster smooth co-ordination and effective execution, and to invest in the training of management and professional staff.

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