Specialized support mechanisms can foster industrial development from "summary" of The Industrial Policy Revolution II by J. Esteban,J. Stiglitz,Justin Lin Yifu
The provision of specialized support mechanisms can play a crucial role in facilitating the development of industries in emerging economies. These mechanisms can take a variety of forms, such as targeted financial assistance, technical assistance programs, and infrastructure development initiatives. By tailoring support to the specific needs and challenges faced by different industries, policymakers can help to address market failures and promote growth in key sectors. One important aspect of specialized support mechanisms is their ability to address informational asymmetries that may hinder industrial development. For example, emerging industries often lack access to critical information about market trends, technological innovations, and best practices. By providing targeted information and guidance, support mechanisms can help firms to make more informed decisions and adapt to changing market conditions. Another key function of speci...
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