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Industrial Policy and Comparative Advantage: When and Where Government Involvement Can Increase Social Welfare

Author

Listed:
  • Yong Wang

    (Assitant Professor, Department of Economics, Hong Kong University of Science and Technology)

Abstract

Yong Wang, Assistant Professor of Economics and Faculty Associates of HKUST IEMS, discussed how government involvement can make or break industrial development as well as social welfare. He pointed out that successful industrial policy should involve dynamic strategic adjustments and the promotion of a given industry in phases, rather than all-at-once. In particular, he cautioned that industrial upgrading may present a challenge to social stability in countries like China, where accelerated industrial upgrading may displace lower-skilled workers and reduces jobs.

Suggested Citation

  • Yong Wang, 2016. "Industrial Policy and Comparative Advantage: When and Where Government Involvement Can Increase Social Welfare," HKUST IEMS Thought Leadership Brief Series 2016-13, HKUST Institute for Emerging Market Studies, revised Sep 2016.
    • Handle: RePEc:hku:briefs:201613
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    File URL: https://iems.ust.hk/assets/publications/thought-leadership-briefs/tlb13/hkust-iems-tlb-yong-wang-final.pdf
    File Function: First version, 2016
    Download Restriction: no
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    Cited by:

    1. Hsu, Bo-Xiang & Chen, Yi-Min & Yan, Ting-Yu, 2021. "Industrial targeting and firm performance: An integrated approach to industry selection," Technological Forecasting and Social Change, Elsevier, vol. 162(C).

    More about this item

    Keywords

    Industrial development; industrialization; policy;
    All these keywords.

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