Industrial Policies in a Changing World, the third publication of OECD’s Perspectives on Global Development series examines the opportunities and challenges for developing countries by the new geography of innovation and production.
Many developing countries have sought to sustain their economic growth, support structural transformation, diversify and upgrade domestic production through industrial policies and that in a changing economic landscape. This year’s report highlights some of the opportunities encountered by developing countries as they move up value chains, increase South-South trade and explore new markets due to the apparition of a new middle class.
The report concludes that three basic policies are needed for successful industrial development policies in developing countries: Investment in skills, access to financing and adequate infrastructure. These policies would stimulate education, entrepreneurship and improve the social progress in developing countries but in order to be effectively implemented, they need to be coupled with a strategic framework, political leadership, well-functioning institutions and effective monitoring and evaluation, according to the report.
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