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How economies grow: Alice Amsden and the real-world economics of late industrialisation

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  • Stephanie Seguino

Abstract

Alice Amsden developed a theory of late industrialisation and a set of accompanying policy approaches that stand in stark contrast to mainstream growth policies that promote market liberalisation. This article explores Amsden’s arguments on the role of wages in promoting growth in countries seeking to move up the industrial ladder. The differential benefits of promoting the development of privately-owned national firms in contradistinction to the emphasis on foreign direct investment are also considered. Finally, the relevance of Amsden’s late-industrialisation model for countries on the verge of industrialisation today in the context of the World Trade Organization’s new global institutional rules is considered.

Suggested Citation

  • Stephanie Seguino, 2017. "How economies grow: Alice Amsden and the real-world economics of late industrialisation," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 10(1), pages 99-110.
    • Handle: RePEc:oup:cjrecs:v:10:y:2017:i:1:p:99-110.
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    File URL: http://hdl.handle.net/10.1093/cjres/rsw033
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    References listed on IDEAS

    as
    1. Di Caprio, Alisa. & Amsden, Alice., 2004. "Does the new international trade regime leave room for industrialization policies in the middle-income countries?," ILO Working Papers 993709513402676, International Labour Organization.
    2. Epstein, Gerald., 2015. "Development central banking : a review of issues and experiences," ILO Working Papers 994881283402676, International Labour Organization.
    3. repec:ilo:ilowps:370951 is not listed on IDEAS
    4. repec:ilo:ilowps:488128 is not listed on IDEAS
    5. repec:ilo:ilowps:371235 is not listed on IDEAS
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    Cited by:

    1. Judith Clifton & Amy Glasmeier & Alpen Sheth, 2017. "Revisiting development theory: Alice H. Amsden’s impact on the field," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 10(1), pages 3-14.

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    More about this item

    Keywords

    economic development; late industrialisation; wages; foreign direct investment; technological change;
    All these keywords.

    JEL classification:

    • F20 - International Economics - - International Factor Movements and International Business - - - General
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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