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Industrial policy has often done more harm than good. The time is right for Latin America and the Caribbean to explore a new way of thinking about productive development policy that will help accelerate growth in the region and improve the wellbeing of its citizens. This issue of IDEA provides a taste of the varied menu of productive development policies in the region as well as some of the analytical issues related to the policymaking process. It is based on the IDB’s latest edition of its flagship Development in the America’s series entitled Rethinking Productive Development: Sound Policies and Institutions for Economic Transformation.
This synopsis reviews the analysis of market failures that lies behind the conceptual framework, a few highlights of its application in key areas such as innovation, and the institutional requirements for successful policy interventions. Together, this synopsis and the table of contents provide just a taste of the rich information and valuable policy implications that distinguish this year’s ... (View publication)
Industrial policy has often done more harm than good. The new conceptual framework presented in this book enables countries to adopt the productive development policies necessary to prosper while avoiding the mistakes of the past. The book rethinks productive development by examining the market failures impeding transformation and the government failures that may make the policy remedies worse tha ... (View publication)
This paper summarizes the findings of the recent Inter-American Development Bank book Two to Tango: Public-Private Collaboration Productive Development Policies, based on case studies of 25 productive development policies (PDPs) in five countries and discusses an additional example from Peru. One finding that emerges from those studies is that governments could not make policy in isolation and nee ... (View publication)
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