Research output

What factors drive successful industrialization? Evidence and implications for developing countries

Research output: Contribution to journalArticleAcademicpeer-review

Associated researcher

Associated organisations

Abstract

This paper analyses the drivers of successful industrialization in developing countries. We consider two different periods, 1970-1990 and 1991-2014, likely to be affected by different patterns of industrialization due to major political, technological and organizational changes. We subsequently develop a methodology to identify a small group of countries for each period, which have exhibited a pattern of industrialization that is not only remarkable in absolute terms, but also sustained. Our analysis reveals that successful industrialization is driven by a combination of factors, including a country's initial economic conditions, factor endowments and other characteristics, such as demography and geography. We also show that other variables that policymakers can control play a crucial role. This includes, among others, the promotion of investments (both public and privately funded) and education; the management of trade and capital openness; financial sector development and the promotion of both macroeconomic and institutional stability. 

    Research areas

  • Developing countries, Industrialization, Policies, STRUCTURAL-CHANGE, PATTERNS, ECONOMIC-GROWTH, industrialization, DEPENDENCE
View graph of relations

Details

Original languageEnglish
Pages (from-to)266-276
Number of pages11
JournalStructural Change and Economic Dynamics
Volume49
DOIs
Publication statusPublished - Jun 2019