Past Research Projects

New Perspectives to Industrial Development (IPD)

Development policy in the 1990s advocated by international financial institutions was influenced by Washington Consensus thinking. This strategy, based largely on liberalization, privatization, and price-stability, down-played, if not disregarded, the role of government in economic planning. With the exception of Asia, many developing countries adopted the view that industrial policy resulted in inefficiency and poor economic growth pervaded. Despite this negative perception, this prescription has been successfully employed in what are now some of the most vibrant emerging markets. Last few years, the necessity of structural transformation has been debated widely. Based on the changing situation, the task force formulated between the Initiative for Policy Dialogue (IPD) at Columbia University and Japan International Cooperation Agency (JICA) explores new perspectives or aspects for industrial policy, with particular attention to neglected issues. This will include regional comparison of Learning Societies as well as research on the roles expected for aid agencies and development finance in the area of industrial policies.