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IntroductionVII

作者:林毅夫   出版社:未知  和讯读书
  Chapter IV illustrates how to apply the GIFF in developing countries.

  Using the example of Nigeria, the chapter identifi es appropriate comparator

  countries and selects a wide range of industries in which Nigeria may

  have latent comparative advantage as the comparator countries may be

  losing theirs. The chapter argues that these industries, which include food

  processing, light manufacturing, suitcases, shoes, car parts, and petrochemicals,

  may lend themselves to targeted interventions of the government.

  The paper also discusses binding constraints to growth in each of

  these industries’ value chains as well as mechanisms through which governance-

  related issues in the implementation of industrial policy could be

  addressed.

  Chapter V focuses on the question of fi nancial structure and development.

  Financial structure varies signifi cantly across countries and,

  within a country, at different levels of development. The chapter argues

  that the optimal fi nancial structure in an economy is endogenous to

  real demand for fi nancial services based on industrial structure, which

  in turn hinges on a country’s comparative advantages. Historically, the

  fi nancial literature has argued that fi nancial depth rather than fi nancial

  structure matters for economic development. This chapter provides

  an overview of theoretical and empirical advances that support

  the notion that fi nancial structure is important for economic development

  and endogenous to its industrial structure. It also discusses the

  circumstances under which the actual fi nancial structure deviates from

  its optimal structure.

  The New Structural Economics argues that countries that pursue a

  comparative-advantage-following development strategy perform better

  than other countries. In chapter VI, the book presents empirical evidence to

  support this notion. It shows that countries that follow their comparative

  advantage have higher growth, lower economic volatility, and less inequality.

  It argues that the failure of most developing countries to converge with

  advanced economies can be explained largely by their governments’ inappropriate

  development strategies. In the past, governments placed priority

  on the development of certain capital-intensive industries rather than

  focusing their efforts on upgrading a country’s endowment structure and

  creating an enabling environment for the development of sectors aligned

  with a country’s comparative advantage.

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