Description
Book SynopsisTransforming Industrial Policy for the Digital Age argues that digital globalization is inducing deep and productive transformations, making industrial policy necessary in order to reorientate development towards inclusive and more sustainable growth. It demonstrates that industrialization remains an important development process for emerging economies.
Featuring contributions by leading scholars, this timely book unpacks the dynamics of 'Industry 4.0', including computer-based algorithms, integration with cloud computing, and the Internet of Things. As existing global value chains take advantage of the new technologies to reorganize production, the contributors explore the implications of new industrial policies, and to what extent they have promoted structural changes that maintain sustainability. This book reflects on the lessons that can be drawn from the history of national industrial policies from across the globe, covering the successes and failures of national policy in promoting industry in response to productive transformations in industrial organization.
Insightful and nuanced, this book will benefit scholars of both economics and industrial public policy. International experts and policy-makers will also appreciate this book's critical insight into the transformative shifts in global industrial organization and policies.
Table of ContentsContents: PART I IMPACT OF INDUSTRY 4.0 ON MANUFACTURING 1. The role of manufacturing versus that services in economic development Jostein Hauge and Ha-Joon Chang 2. The “Lightness” of Industry 4.0 Lead Firms: Implications for global value chains Lukas Brun, Gary Gereffi and James Zhan 3. The National Innovation System (NIS) and readiness for the fourth industrial revolution: South Korea compared with four European countries Keun Lee and Jongho Lee PART II LESSONS FROM PAST INDUSTRIAL POLICY 4. Industry and government in the long-run: The true story of the American model Marco R. Di Tommaso, Mattia Tassinari and Andrea Ferrannini 5. Chinese Industrialization, Planning, and Policies: Local Growth and Global Equilibria Marco R. Di Tommaso, Chiara Pollio, Elisa Barbieri and Lauretta Rubini 6. Long-term challenges of industrial development in Latin America and the Caribbean Jorge Máttar 7. The Future of Industrial Policies in the World: towards a new manufacturing narrative Clemente Ruiz Durán PART III UNEVEN DEVELOPMENT IN TIMES OF INDUSTRIAL REVOLUTION AND NEED FOR TERRITORIAL INDUSTRIAL POLICY 8. Industry 4.0+ challenges to local productive systems and place-based integrated industrial policies Marco Bellandi, Lisa de Propris and Enrica Santini 9. Economic Policy in the Time of Reactionary Populism Michael J. Piore Index
