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Institutions for Industrial Policy : The Foundation of Economic Development / Reda Cherif, Fuad Hasanov, Gary Xie.
- Format:
- Book
- Government document
- Author/Creator:
- Cherif, Reda.
- Series:
- IMF Working Papers; Working Paper ; No. 2026/063
- IMF Working Papers
- Language:
- English
- Physical Description:
- 1 online resource (76 pages)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2026.
- Summary:
- We propose an institutional architecture for the successful implementation of industrial policy inspired by the Asian Miracles—Japan, Korea, Taiwan Province of China, Singapore, and Hong Kong SAR. The key institutional arrangement is a leading agency, accumulating sector-specific knowledge through continuous experimentation and feedback from markets, to design the sector- and context-appropriate package of policies, which is a priori unknown, and coordinate its implementation. We also postulate a 4A model of institutional features of the leading agency: Ambition-Agency, Autonomy, Accountability, and Adaptability. We draw strong parallels with the rise of independent central banks, inferring concrete steps to achieve these characteristics.
- Notes:
- Description based on print version record.
- ISBN:
- 979-82-290-4383-0
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