Loading...
Please wait, while we are loading the content...
Similar Documents
Neoliberalism and manufacturing sector development
| Content Provider | Scilit |
|---|---|
| Author | Lawrence, Peter Nixson, Frederick |
| Copyright Year | 2020 |
| Description | How far have policies towards manufacturing development in the Global South and the transitional economies been affected by the neoliberal principles which have dominated economic policymaking over the last 40 years? In addressing this question, we discuss the different approaches taken by economists and governments towards developing the manufacturing sector in these economies. We contrast the state-led approaches, central to early development economics thinking, with the neoliberal critique and its grounding in the principles of neoclassical 'free-market' economics. We survey the course of industrial development and policy in the Global South, highlighting the role of state-led import substitution policy in early manufacturing industrialisation. We consider the neoliberal criticisms of this policy and survey the effects of the adoption of neoliberal economic policies on the manufacturing sector. We argue that for many countries, where these policies were actually adopted, they negatively affected the sector. Where countries had successfully developed import substitution to the stage of export orientation of manufactured products, neoliberalism did not diminish state involvement in, and direction of, manufacturing development. Over the last two decades, there has been a revival of interest in state-led industrial policy and evidence of adoption in some countries. The failure of neoliberal policies to effect structural transformation in the Global South, the failure of neoliberal 'shock therapy' to do the same in many of the transitional economies and the continuing success of those countries that have consistently accepted state direction of their economies through an industrial policy, have contributed to this new interest and activity. We argue that in the light of the climate emergency and limited employment creation implied by the 'fourth industrial revolution', the need for a state-led industrial policy is as great as ever. Book Name: Economic Neoliberalism and International Development |
| Related Links | https://api.taylorfrancis.com/content/chapters/edit/download?identifierName=doi&identifierValue=10.4324/9780429277092-8&type=chapterpdf |
| DOI | 10.4324/9780429277092-8 |
| Language | English |
| Publisher | Informa UK Limited |
| Publisher Date | 2020-11-22 |
| Access Restriction | Open |
| Subject Keyword | Book Name: Economic Neoliberalism and International Development Geography Neoliberal Manufacturing Global South Transitional Economies Sector Policy Survey |
| Content Type | Text |
| Resource Type | Chapter |
