Pathways to Industrialization in the Twenty-first Century

Over the last two centuries, the experiences of the first wave of industrialized countries in Europe and the US, and the more recent experiences of the East Asian Tigers, Indonesia, Malaysia, Thailand, China, India, and Vietnam, have illustrated the transformative nature of industrialization. There are reasons to believe that industrialization will continue to be one of the major engines of growth, transformation, and socioeconomic development. Industrial development enables a more rapid advancement toward developed country living standards. But many challenges remain, and new challenges have arisen. These include: integration into global value chains; the shrinking of policy space in the present international order; the rise of the Asian driver economies; new opportunities provided by resource-based industrialization; the accelerating pace of technological change in manufacturing; how to deal with jobless growth in manufacturing; creating adequate systems of financial intermediation; and how to respond to the threats of global warming and climate change. Under present conditions it may be more difficult than ever for the poorer developing countries to foster industrial development and structural change. They face a more complex, and daunting set of circumstances than the developing countries that embarked on industrialization after 1950. These changing and challenging circumstances require new thinking, and in particular new paradigms to guide researchers, policy makers, and international development organizations in the future. The book includes chapters on the experiences of Africa, Latin America, China, and Indonesia, as wells as thematic chapters on structural change, jobless growth, the evolution of industrial policy, and the challenges of environmental sustainability and climate change. It provides a timely analysis of the circumstances and challenges facing developing countries in industrialization, and offer fresh ideas for new paradigms to carry forward industrial policy in the future.Foreword ; PART I: INTRODUCTION ; 1. Introduction and Overview: The Past, Present, and Future of Industrialization ; PART II: THE NEED FOR AND CHALLENGE OF INDUSTRIALIZATION ; 2. Manufacturing and Economic Development ; 3. Deindustrialization and Reindustrialization ; 4. Emerging Patterns of Structural Change in Manufacturing ; PART III: PATHWAYS TO INDUSTRIAL DEVELOPMENT: PAST, PRESENT, AND FUTURE ; 5. Learning from Asia's Success: Beyond Simplistic 'Lesson-Making' ; 6. Rethinking China's Path of Industrialization ; 7. Indonesian Industrialization: A Latecomer Adjusting to Crises ; 8. Industrial Policies in Latin America ; 9. Should Africa Industrialize? ; PART IV: CLIMATE CHANGE AND SUSTAINABILITY ; 10. Climate Change and Industrial Policy ; 11. Global Asymmetries and their Implications for Climate and Industrial Policies ; 12. Global Supply Chains in Chinese Industrialization: Impact on Waste Scavenging in Developing Countries ; PART V: CHALLENGES TO INDUSTRIAL POLICY ; 13. Can Industrial Policy Work under Neopatrimonial Rule? ; 14. Entrepreneurship, Stages of Development, and Industrialization ; 15. Industrial Policy in the Twenty-First Century: Challenges for the Future ; PART VI: CONCLUSION ; 16. Pathways to Industrialization: Summary and Overview