A Cluster-Based Industrial Development Policy for Low-Income Countries

The need to construct an effective strategy for industrial development in low-income countries has been largely ignored by development economists because industrial policies have failed in many developing countries. This does not imply, however, th...

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Bibliographic Details
Main Authors:	Otsuka, Keijiro, Sonobe, Tetsushi
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCOUNTING ADJUSTMENT POLICIES ADVISERS AGRICULTURE ALLOCATION ASYMMETRIC INFORMATION BORROWING BUSINESS CONSULTANTS BUSINESS CYCLE BUSINESS TRAINING CAPITAL ACCUMULATION CAPITAL FORMATION CAPITAL INVESTMENT CAPITALISM CASH FLOWS CITIES COLLABORATION COMMUNICATION NETWORKS COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES COMPARATIVE ANALYSIS COMPARATIVE ECONOMICS COMPETITIVE MARKET ENVIRONMENTS CONSUMERS CORRUPTION CREDIT ACCESS CREDIT ANALYSIS CREDIT CONSTRAINTS CREDIT MARKETS CULTURAL CHANGE DEVELOPMENT BANKS DEVELOPMENT ECONOMICS DEVELOPMENT POLICIES DEVELOPMENT POLICY DEVELOPMENT STRATEGY DIVISION OF LABOR ECONOMIC DEVELOPMENT ECONOMIC GEOGRAPHY ECONOMIC GROWTH ECONOMIC HISTORY ECONOMIC RESEARCH EMPLOYMENT ENDOWMENTS ENGINEERS ENTERPRISE DEVELOPMENT ENTREPRENEUR ENTREPRENEURS EQUAL ACCESS EXCHANGE CONTROL EXTERNALITIES FACILITATION FAMILIES FEMALE ENTREPRENEURSHIP FINANCES FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL LITERACY FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SECTOR FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN FIRMS FORMAL CREDITS FREE PRESS GOVERNMENT POLICIES GROWTH THEORY HOUSEHOLDS HUMAN CAPITAL INCOME INCREASING RETURNS INDUSTRIAL DEVELOPMENT INDUSTRIAL ECONOMIES INDUSTRIALIZATION INNOVATION INPUT PRICES INTERNATIONAL BANK INTERNATIONAL TRADE INVENTIONS INVENTORY LABOR MANAGEMENT LABOR MARKETS LABOR PRODUCTIVITY LACK OF CREDIT LEARNING LENDERS LITERACY MARGINAL PRODUCT MARKET FAILURES MERGERS NEW BUSINESS NEWLY INDUSTRIALIZED COUNTRIES PER CAPITA INCOME POLITICAL ECONOMY PRIVATE SECTOR PRODUCTIVITY PROFITABILITY PROPERTY RIGHTS PROVISION OF CREDIT PUBLIC GOODS RATES OF RETURN RELATIONAL CONTRACTING SCALE EFFECT SEARCH COSTS SKILLED LABOR SKILLED WORKERS SMALL ENTERPRISES SOCIAL CAPITAL SOCIAL INFRASTRUCTURE SPECIALIZATION START-UP STRUCTURAL CHANGE SUPPLIERS TAX TECHNICIANS TECHNOLOGY TRANSFER TERM CREDIT TOTAL OUTPUT TRADE CREDIT TRAINING PROGRAMS TRANSACTION COSTS URBAN DEVELOPMENT VENTURE CAPITAL VILLAGE WEALTH WEALTH OF NATIONS
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110622152531 http://hdl.handle.net/10986/3467

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Summary:	The need to construct an effective strategy for industrial development in low-income countries has been largely ignored by development economists because industrial policies have failed in many developing countries. This does not imply, however, that industrial development cannot be promoted. This paper attempts to synthesize the conventional wisdom in development economics with recent advancements in various fields of economics (such as theories of endogenous growth and agglomeration economies) to provide a useful framework to design a strategy for industrial development, which consists of investments in managerial human capital followed by the provision of credit and the construction of industrial zones.

A Cluster-Based Industrial Development Policy for Low-Income Countries

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