Pathways to Industrialization in the Twenty-First Century：New Challenges and Emerging Paradigms

Overthelasttwocenturies,theexperiencesofthefirstwaveofindustrializedcountriesinEuropeandtheUS,andthemorerecentexperiencesoftheEastAsianTigers,Indonesia,Malaysia,Thailand,China,India,andVietnam,haveillustratedthetransformativenatureofindustrialization.Therearereasonstobelievethatindustrializationwillcontinuetobeoneofthemajorenginesofgrowth,transformation,andsocioeconomicdevelopment.Industrialdevelopmentenablesamorerapidadvancementtowarddevelopedcountrylivingstandards.Butmanychallengesremain,andnewchallengeshavearisen.Theseinclude:integrationintoglobalvaluechains;theshrinkingofpolicyspaceinthepresentinternationalorder;theriseoftheAsiandrivereconomies;newopportunitiesprovidedbyresource-basedindustrialization;theacceleratingpaceoftechnologicalchangeinmanufacturing;howtodealwithjoblessgrowthinmanufacturing;creatingadequatesystemsoffinancialintermediation;andhowtorespondtothethreatsofglobalwarmingandclimatechange.Underpresentconditionsitmaybemoredifficultthaneverforthepoorerdevelopingcountriestofosterindustrialdevelopmentandstructuralchange.Theyfaceamorecomplex,anddauntingsetofcircumstancesthanthedevelopingcountriesthatembarkedonindustrializationafter1950.Thesechangingandchallengingcircumstancesrequirenewthinking,andinparticularnewparadigmstoguideresearchers,policymakers,andinternationaldevelopmentorganizationsinthefuture.ThebookincludeschaptersontheexperiencesofAfrica,LatinAmerica,China,andIndonesia,aswellsasthematicchaptersonstructuralchange,joblessgrowth,theevolutionofindustrialpolicy,andthechallengesofenvironmentalsustainabilityandclimatechange.Itprovidesatimelyanalysisofthecircumstancesandchallengesfacingdevelopingcountriesinindustrialization,andofferfreshideasfornewparadigmstocarryforwardindustrialpolicyinthefuture.