Industrial policy is government policy to encourage the development and growth of all or part of the economy in pursuit of some public goal. Historically, it has often focused on the manufacturing sector, militarily important sectors, or on fostering an advantage in new technologies. In industrial policy, the government takes measures "aimed at improving the competitiveness and capabilities of domestic firms and promoting structural transformation". A country's infrastructure is a major enabler of industrial policy.
Race to the bottom is a socio-economic concept describing a scenario in which individuals or companies compete in a manner that incrementally reduces the utility of a product or service in response to perverse incentives. For example, in the 1970s, car manufacturers in the United States competed to create safer cars primarily by increasing car weight, spurring their competitors to respond by manufacturing even-heavier cars. Over years, this resulted in much larger, fuel-inefficient vehicles with no improved safety. This phenomenon is in contrast with traditional competition (economics), which tends to improve goods and services.
Jan Tinbergen was a Dutch economist who was awarded the first Nobel Memorial Prize in Economic Sciences in 1969, which he shared with Ragnar Frisch for having developed and applied dynamic models for the analysis of economic processes. He is widely considered to be one of the most influential economists of the 20th century and one of the founding fathers of econometrics.
Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether through public or private channels.
International political economy (IPE) is the study of how politics shapes the global economy and how the global economy shapes politics. A key focus in IPE is on the power of different actors such as nation states, international organizations and multinational corporations to shape the international economic system and the distributive consequences of international economic activity. It has been described as the study of "the political battle between the winners and losers of global economic exchange."
Erasmus University Rotterdam is a public research university located in Rotterdam, Netherlands. The university is named after Desiderius Erasmus Roterodamus, a 15th-century Christian humanist and theologian.
Cornelis Pieter "Cees" Veerman is a retired Dutch politician of the Christian Democratic Appeal (CDA) party and economist.
Avinash Kamalakar Dixit is an Indian-American economist. He is the John J. F. Sherrerd '52 University Professor of Economics Emeritus at Princeton University, and has been Distinguished Adjunct Professor of Economics at Lingnan University, senior research fellow at Nuffield College, Oxford and Sanjaya Lall Senior Visiting Research Fellow at Green Templeton College, Oxford.
Ricardo Hausmann is the former Director of the Center for International Development currently leading the Center for International Development's Growth Lab and is a Professor of the Practice of Economic Development at the Harvard Kennedy School at Harvard University. He is also a former Venezuelan Minister of Planning and former Head of the Presidential Office of Coordination and Planning (1992–1993). He co-introduced several regularly used concepts in economics including original sin, growth diagnostics, self-discovery, dark matter, the product space, and economic complexity.
Sir Timothy John Besley, is a British academic economist who is the School Professor of Economics and Political Science and Sir W. Arthur Lewis Professor of Development Economics at the London School of Economics (LSE).
The Paris School of Economics is a French research institute in the field of economics. It offers MPhil, MSc, and PhD level programmes in various fields of theoretical and applied economics, including macroeconomics, econometrics, political economy and international economics.
Sir Paul Collier, is a British development economist who serves as the Professor of Economics and Public Policy at the Blavatnik School of Government at the University of Oxford and co-Director of the International Growth Centre. He is also a Professeur invité at Sciences Po and a Professorial Fellow of St Antony's College, Oxford.
Nancy Birdsall is an American economist, the founding president of the Center for Global Development (CGD) in Washington, DC, USA, and former executive vice-president of the Inter-American Development Bank.
Esther Duflo, FBA is a French-American economist currently serving as the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics at the Massachusetts Institute of Technology (MIT). In 2019, she was jointly awarded the Nobel Memorial Prize in Economic Sciences alongside Abhijit Banerjee and Michael Kremer "for their experimental approach to alleviating global poverty".
The concertina model, sometimes referred to as the concertina rule or concertina method, is an international trade liberalisation strategy, which consists of removing the highest tariffs first. Amiti traces this "idea back to Meade who concluded that the welfare gains will be larger if tariffs on those goods with the highest tariffs are reduced first. This result was formalized by a number of authors, including Bertrand and Vanek (1971) and Falvey (1988) for a small, open, perfectly competitive economy."
Arvind Panagariya is an Indian economist who is holding the position of Jagdish Bhagwati Professor of Indian Political Economy at Columbia University and the Director of Deepak and Neera Raj Center on Indian Economic Policies at School of International and Public Affairs at Columbia University in New York City. He served as first vice-chairman of the government of India think-tank NITI Aayog between January 2015 and August 2017. He has been appointed as the chairman of 16th Finance Commission by the government of India. He is a former Chief Economist of the Asian Development Bank. He was awarded the Padma Bhushan by the President of India in 2012 for his contributions in the field of economics and Public Policy.
Erik Thorbecke is a development economist. He is a co-originator of the widely used Foster-Greer-Thorbecke poverty measure and played a significant role in the development and popularization of Social Accounting Matrix. Currently, he is H. E. Babcock Professor of Economics, Emeritus, and Graduate School Professor at Cornell University.
Çetin Doğan is a retired Turkish general. He was Commander of the First Army of Turkey.
The Institute of Economic Growth (IEG) is an autonomous, multidisciplinary Centre for advanced research and training. Established in 1958, its faculty of about 23 social scientists and a large body of supporting research staff focus on areas of social and policy concern.
Hyper-globalization is the dramatic change in the size, scope, and velocity of globalization that began in the late 1990s and that continues into the beginning of the 21st century. It covers all three main dimensions of economic globalization, cultural globalization, and political globalization. The concept first arose in the 2011 work by Dani Rodrik, an economist and professor of International Political Economy at the Kennedy School of Government at Harvard University, who described it in The Globalization Paradox. Rodrik criticized the state of globalization, questioning the wisdom of unlimited economic integration beyond national borders. He sees a conflict between the workings of the nation state and free flow economic globalization that has gone too far "toward an impractical version that we might call hyperglobalization".
