Industrial Policy Frameworks, Approaches and Recommendations for Developing Countries

Industrial policy varies across countries, especially with respect to the level of development already attained, and over time, so there is no one blueprinting that all developing countries can adopt. In reality, to implement specific industrial strategy, the neo-classical framework and the developmental framework are not alternative but complementary. With globalization and trade liberalization, revisionist approach to industrial policy is more often employed by developing states than classical approach. To be a positive and capable state is important for economy transition and development.