Does What You Export Matter? In Search of Empirical Guidance for Industrial Policies

Lederman, Daniel; Maloney, William F.

Does What You Export Matter? In Search of Empirical Guidance for Industrial Policies

Autores

Lederman, Daniel

Maloney, William F.

Editor

Washington, DC: World Bank

Descripción

Does the content of what economies export matter for development? And, if it does, can governments improve on the export basket that the market generates through the shaping of industrial policy? This book considers these questions by reviewing relevant literature and taking stock of what is known from conceptual, empirical, and policy viewpoints. A large literature answers affirmatively to the first question and suggests the characteristics that distinguish desirable exports. More prosaically, but no less controversially, goods which are intensive in unskilled labor are thought to promote 'pro-poor' or 'shared growth,' whereas those which are skilled-labor intensive are thought to generate positive externalities for society as a whole. Concerns about macroeconomic stability have led to a focus on the overall composition of the export basket. This book revisits many of these arguments conceptually and, wherever possible, imports heuristic approaches into frameworks where, as more familiar arguments, they can be held up to the light, rotated, and their facets examined for brilliance or flaws. Second, the book examines what emerges empirically as a basis for policy design. Specifically, given certain conceptual arguments in favor of public sector intervention, do available data and empirical methods allow for actually doing so with a high degree of confidence? In asking this question, the book assumes that policy makers are competent and seek to raise the welfare of their citizens. This assumption permits sidestepping the debate about whether government failures trump market failures generically: In this sense, the book attempts to 'give industrial policy a chance.'

Palabras clave

ACCOUNTING, AGRICULTURAL COMMODITY, AGRICULTURE, AUTOMOBILES, BARRIER TO ENTRY, BARRIERS TO ENTRY, BASKET OF GOODS, BENCHMARK, BEST PRACTICES, BID, CAPABILITIES, CAPITAL MARKET, CAPITALISM, CELL PHONE, CELL PHONES, COMMODITIES, COMMODITY PRICES, COMPARATIVE ADVANTAGE, COMPETITIVE MARKET, COMPUTERS, COORDINATION MECHANISM, CORPORATION, CREDIT MARKETS, DATA MANIPULATIONS, DEBT, DEBT OVERHANG, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DEVELOPMENT ECONOMICS, DEVELOPMENT POLICY, DISPLACEMENT, DIVERSIFIED PORTFOLIO, DRIVERS, DUMMY VARIABLE, DUMMY VARIABLES, E-MAIL, ECONOMETRIC ANALYSES, ECONOMIC COMPLEMENTARITY, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC MODELS, ECONOMIC RENTS, ECONOMICS RESEARCH, ECONOMIES OF SCALE, EFFICIENCY WAGES, ELECTRONICS INDUSTRY, EQUIPMENT, ESP, EXCESS DEMAND, EXCHANGE RATE, EXPORTERS, EXPORTS, EXTERNALITY, FACTORS OF PRODUCTION, FINANCIAL DEVELOPMENT, FINANCIAL MARKETS, FOREIGN DEBT, GDP PER CAPITA, GLOBAL SUPPLY CHAIN, GOVERNMENT INTERVENTION, GROSS DOMESTIC PRODUCT, GROWTH RATE, HOMOGENEOUS GOODS, HUMAN CAPITAL, INCOME, INCOME DISTRIBUTION, INCOME GROWTH, INCREASING RETURNS, INCREASING RETURNS TO SCALE, INCUMBENT, INDUSTRIAL STRUCTURE, INDUSTRIAL STRUCTURES, INDUSTRIALIZATION, INFORMATION TECHNOLOGIES, INNOVATION, INTERNATIONAL BANK, INTERNATIONAL COMPARISON, INTERNATIONAL TRADE, INVENTION, INVESTMENT RATES, KNOWLEDGE ECONOMY, LABOR FORCE, LABOR MARKET, LABOR MOBILITY, LICENSE, LICENSES, MACROECONOMIC POLICIES, MACROECONOMIC POLICY, MACROECONOMIC STABILITY, MACROECONOMIC VOLATILITY, MANUFACTURING, MANUFACTURING INDUSTRIES, MARGINAL COST, MARKET DATA, MARKET FAILURE, MARKET FAILURES, MARKET PRICE, MARKET STRUCTURE, MARKETING, MATERIAL, MATURE MARKETS, MONETARY FUND, MONOPOLIES, MONOPOLY, MONOPOLY RENTS, MULTIPLE EQUILIBRIA, NATIONAL ECONOMY, NATIONAL INCOME, NATURAL ENDOWMENTS, NATURAL RESOURCE, NATURAL RESOURCES, NEGATIVE EXTERNALITY, NET EXPORTS, NPL, PATENTS, PER CAPITA INCOME, POLITICAL ECONOMY, POLITICAL INSTITUTIONS, POLITICAL STABILITY, PORTFOLIO, PORTFOLIO DIVERSIFICATION, POSITIVE COEFFICIENT, POSITIVE EXTERNALITIES, PRICE VOLATILITY, PRIVATE SECTOR, PRODUCT CATEGORIES, PRODUCT DIFFERENTIATION, PRODUCT INNOVATION, PRODUCTION PROCESS, PRODUCTION PROCESSES, PRODUCTIVITY, PRODUCTIVITY GROWTH, PROTECTIONISM, PUBLIC SECTOR, PURCHASING POWER, QUERIES, RANDOM WALK, RATE OF RETURN, RATES OF RETURN, REAL GDP, REAL WAGES, REGIONAL DUMMY, RENT SEEKING, REPUBLIC, RESERVES, RESULT, RESULTS, RETURN, SILICON, SKILLED WORKERS, SOCIAL NETWORKS, SPECIALIZATION, TECHNOLOGICAL ADVANCES, TELECOM, TELECOMMUNICATIONS, TELEPHONE, TELEVISION, TELEVISIONS, TIME PERIOD, TOTAL FACTOR PRODUCTIVITY, TOTAL FACTOR PRODUCTIVITY GROWTH, TRADE NETWORKS, TRADE POLICIES, TRADE POLICY, TRADE REGIMES, TRADE STRUCTURE, TRANSLATION, TRUST FUND, UNSKILLED LABOR, UNSKILLED WORKERS, VALUE ADDED, WAGE STRUCTURE, WAGES, WEALTH, WEALTH OF NATIONS