Public Disclosure Authorized
Document 61894 - July 2011
Annual World Bank Conference on Development Economics - Global 2010
Edited by Justin Yifu Lin and Boris Pleskovic
The World Bank - Washington, D.C.
Lessons
from East Asia and the Global Financial Crisis
0 Cover -
Contents - About this book
1
Introduction
Justin
Yifu Lin and Boris Pleskovic
2 Opening
address
Jeung-Hyun
Yoon
OPENING ADDRESS
3 Learning
from the Past to Reinvent the Future
Justin Yifu Lin
KEYNOTE ADDRESS
4 The Global
Financial Crisis: Causes and Policy Responses
Il SaKong
KEYNOTE ADDRESS
5 Development
Prospects in Light of the Global Financial Crisis
Anne O. Krueger
KEYNOTE ADDRESS
6 The Global
Crisis: Is It Over Yet?
Simon Johnson
Industrial Policy and Development
7 Industrial
Policy and Development: A Political Economy Perspective
James A. Robinson
8 COMMENT
Bert Hofman
9 Industrial
Policy: Can We Go Beyond an Unproductive Confrontation?
Ha-Joon Chang
This paper attempts to go beyond what the author sees as an unproductive confrontation
between the proponents and the opponents of industrial policy and to take
the debate on industrial policy forward. After discussing some issues related to conceptualizing
and assessing industrial policy, the paper discusses most (although not all)
of the key issues emerging from the industrial policy debate. They include the wisdom
or otherwise of targeting, the feasibility of the state “beating the market,” political
economy questions, bureaucratic capabilities, performance measurement (especially
export targets), the importance of export-related industrial policy, and the implications
of changing global policy environment.
TABLE 2. Historical Rates of Economic Growth by Major Regions during and after
the Age of Imperialism, 1820–1950
(annual per capita GDP growth rate, %)
| Region |
1820–70 |
1870–1913 |
1913–50 |
1950–73 |
| Western Europe |
0.95 |
1.32 |
0.76 |
4.08 |
| Western offshoots a. |
1.42 |
1.81 |
1.55 |
2.44 |
| Japan |
0.19 |
1.48 |
0.89 |
8.05 |
| Asia excluding Japan |
–0.11 |
0.38 |
–0.02 |
2.92 |
| Latin America |
0.10 |
1.81 |
1.42 |
2.52 |
| Eastern Europe and the former Soviet Union |
0.64 |
1.15 |
1.50 |
3.49 |
| Africa |
0.12 |
0.64 |
1.02 |
2.07 |
| World |
0.53 |
1.30 |
0.91 |
2.93 |
Source: Maddison 2001,"The World Economy: A Millennial Perspective". Paris: OECD. 126, table 3-1a.
a. Australia, Canada, New Zealand, and the United States.
10 COMMENT
Karen
R. Polenske
Social Capital, Institutions, and Development
11 A Matter of
Trust: Social Capital and Economic Development
Partha Dasgupta
12 “Individual”
Social Capital, “Social” Networks, and Their Linkages to Economic Game
Masahiko Aoki
13 COMMENT
Mariano Tommasi
Financial Crisis and Regulation
14 Reform of
the Global Regulatory System: Perspectives of East Asia’s Emerging Economies
Yung Chul Park
15 Financial
Crisis and the Paradox of Underregulation and Overregulation
Joshua Aizenman
16 COMMENT
Jong-Wha Lee
The Road Ahead to a Sustainable Global Economic System
17 Lessons
from the Recent Financial Crisis for Reforming National and International Financial Systems: The
Road Ahead to a Sustainable Global Economic System
Stijn Claessens
18 COMMENT
Yoon Je Cho
19 A
Sustainable Global Economic System after the “Great Recession”? Some Lessons from History
Giovanni Zanalda
20 COMMENT
Jeromin
Zettelmeyer
Innovation and Competition
21 Innovation
and Financial Globalization
Philip R. Lane
22 Innovation,
Competitiveness, and Growth: Korean Experiences
Sungchul Chung
23 COMMENT
Jean-Jacques
Dethier
24 CLOSING
SUMMARY
Alan
Gelb and Shahrokh Fardoust
25 CLOSING
REMARKS:
Young
Geol Lee
|
