Coordination Economics, Poverty Traps, and the Market Process
A New Case for Industrial Policy?
By Bogdan Glăvan
Development economists have argued that large-scale industrial policy is the best remedy to correct the coordination failure they claim prevents market economies from making the complementary investments needed to lift poor countries out of poverty. At the root of their argument is a misunderstanding of the entrepreneurs role in fostering economic growth.
|Other Independent Review articles by Bogdan Glăvan|
|Winter 2012/13||We Are Not Macroprudentialists:A Skeptical View of Prudential Regulation to Deal with Systemic Externalities|