Newly Industrialising Countries

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The Review of Industrial Policies in Bangladesh from 1971 - 2014. The Main Points of this assignment is The Review of Industrial Policies in Bangladesh from 1971 - 2014. The Review of Industrial Policies in Bangladesh from 1971 - 2 Industrialization is an essential pre -requisite for rapid and sustained economic development and social progress. Modernization and structural transformation of the economy and diversification of the economic base and standard of living of the people are the universally recognized dynamic benefits arising from industrial development. Industrialization is thus pursued as an overriding development objective in its own right. In the past, efforts towards industrialization in Bangladesh were made under changing economic paradigm and political economy regimes. Since independence in 1971, a total of ten industrial policies have been formulated and adopted for industrial development of Bangladesh. Concept of Industrial Policy. The policy contents of industrial policy are now getting wider and wider. While the traditional role of industrial policy. to influence the allocation of resources to industry, i.e., policies that affect the infrastructure of industry in general, such as the provision of industrial sites, roads, ports, and electric power, to regulate the internal organization of particular industries, such as industrial restructuring, consolidation of firms, and output restrictions, and To influence the growth of small and medium scale enterprises (SMEs), etc. remains as before, industrial policies are now directed at achieving on-economic goals. Main Theme of Industrial Policy In Bangladesh It has been 43 years since Bangladesh’s independent. Since then the country has formulated ten industrial policies. The country till now has gone through 10 policies: Importance of Industrial Policies in Bangladesh The key to poverty alleviation lies in the generation of productive employment through rapid economic growth and structural transformation of the economy away from agriculture and toward industry. While the slow growth of the manufacturing sector may be attributed to factors like energy shortage, reduced availability of bank credit, poor inflow of foreign direct investment (FDI) labor unrest, and poor law and order conditions no less responsible are the inconsistent policies. The market failure approach makes public policy to focus basically on supplying lacking inputs: physical capital, skills, technology, etc. While this is an important policy area, developing countries also tend to suffer from a lack of demand for such inputs. Market failures are not always easy to locate except in the most obvious situations (namely, education, infrastructure, etc.) and, when they can be located, their seriousness may not be apparent. There is what amounts to a “private sector failure”, when a firm’s goal

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The ten members of the Association of Southeast Asian Nations (ASEAN) – along with China and India – are shifting the centre of gravity of the global energy system towards Asia. Energy demand in Southeast Asia has expanded by two-and- a-half times since 1990, its rate of growth among the fastest in the world. Economic and demographic trends point to further growth, lifting the region’s energy use per capita from just half of the global average today. But how will Southeast Asia’s fuel mix evolve? And what will the region’s supply and demand balance mean for oil, gas and coal trade? The International Energy Agency, in co-operation with the Economic Research Institute for ASEAN and East Asia, has studied these issues in consultation with ASEAN member governments and leading commentators, industry representatives and international experts. This special report, in the World Energy Outlook series, presents the findings.

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After World War II ended in 1945, Japan made a new start toward economic reconstruction as a democratic and pacifist state. Thanks to its highly educated and abundant labor force and to the concentration of capital and resources in certain key industries, such as electric power and steel, Japan succeeded in recovering from the ruins of war and achieving industrialization during the 1950s and 1960s.

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ECON251 INDUSTRY AND TRADE IN ASIA Tutorial 3 [Topic 6 -8] SECTION A : DATA ANALYSIS AND CASE STUDY Question 1 The small successful Economies - Singapore and Hong Kong – A tale of 2 cities Background 1: The economics model The Solows Economic Growth model Y = A LSL KSK Where • Y is output or GDP; • A is Total factor Productivity (TFP); TFP in general refers to technical improvements that allow for GDP growth without any corresponding increase in labour or capital. This could be through any type of improvements in underlying technology, such as an improvement in production methodology (Howitt and Aghion, 1998) or a decrease in per unit costs (Harberger, 1998). TFP can also be accrued due to external factors as externalities, economies of scale, and investment- specific technical change etc • K and L are capital and labour inputs respectively; and • SK and SL are the income shares of capital and labour respectively Background 2 : Brief Introduction to the two jewels of East Asia Hong Kong and Singapore are similar in many ways . To begin with the similarities: In the prewar era, both economies were British colonies that served as entrepot trading ports, with little domestic manufacturing activity. Hong Kong processed trade between Mainland China and the rest of the world, and Singapore served as a conduit for world trade with Malaya and Indonesia. In the postwar era, however, both economies developed large export-dependent domestic manufacturing sectors. Both economies have passed through a similar set of industries, moving from textiles, to clothing, to plastics, to electronics, and then, in the 1980s, gradually moving from manufacturing into banking and financial services. Gross domestic product (GDP) per capita in the two economies was quite close in 1960, and they have subsequently grown at the same remarkable rate. From the political economy perspective, one can note that both economies inherited a fairly efficient and rational administrative structure. The postwar population of both was composed primarily of immigrant Chinese from Southern China. Both economies are really small cities, with no significant agricultural interests, economic or political. Along many dimensions of interest to growth theorists, the two economies are, however, conveniently dissimilar. The role of government While the Hong Kong government has emphasized a policy of laissez faire and state intervention is primarily on infrastructure development , the Singaporean government has, since the early 1960s, pursued the accumulation of physical capital via forced national saving and the solicitation of a veritable deluge of foreign investment. [Adapted from Young, Alywn, “A Tale of Two Cities: Factor Accumulation and Technical Change in Hong Kong and Singapore, January 1992 ] Abstract 1: Grappling with productivity challenge over the decades, April 24, 2016, ...

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Japan's economic situation in recent history has been characterized by both periods of remarkable growth and challenges. Following World War II, Japan experienced a period of rapid economic expansion, known as the "Japanese Economic Miracle," which propelled it to become the world's second-largest economy. This growth was driven by industries such as automobiles, electronics, and manufacturing. However, in the 1990s, Japan faced a prolonged economic downturn, commonly referred to as the "Lost Decade," marked by asset price deflation and sluggish growth. The government implemented various economic reforms and stimulus measures to address these challenges. In recent years, Japan has shown signs of recovery, with improved economic indicators, increased foreign investment, and efforts to stimulate innovation and entrepreneurship. Despite ongoing concerns such as an aging population and high public debt, Japan remains a major global economic player, known for its technological advancements and export-oriented industries.

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“Competitiveness and Economic Growth. An Analysis of Mexico and Korea.” Crecimiento Económico y Competitividad. Un Análisis de México y Corea. Dr. Alejandro Díaz-Bautista Professor of Economics and Researcher at El Colegio de la Frontera Norte (COLEF) Profesor Investigador del Colef. Miembro del SNI Conacyt. adiazbau@hotmail.com Prepared for the Conference at the Faculty of Economics, University of Colima, April 29-30, 2010. Colima, Colima, Mexico. Preparado para la Conferencia en la Facultad de Economía de la Universidad de Colima, para los estudios en Cuenca del Pacífico en la Universidad de Colima, los días 29 y 30 de abril de 2010.

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