The role of industrial policy: Japan’s experience

Detalhes bibliográficos
Autor(a) principal: KAGAMI,MITSUHIRO
Data de Publicação: 1995
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Revista de Economia Política
Texto Completo: http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31571995000100121
Resumo: ABSTRACT There are two views on “industrial policy”, negative and positive. Negative views say the market mechanism is the best way to allocate resources efficiently. Thus, government policy with preferential treatment for a specific industry hinders this market force and leads to a misallocation of resources. On the other hand, positive views say that state intervention is necessary since market forces sometimes fail to allocate resources efficiently. Broadly speaking, this is an issue on relationships between the state and the market, or to what extent we can rely on the “invisible hand” of Adam Smith.
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spelling The role of industrial policy: Japan’s experienceIndustrial policyeconomic developmentMarket failureeconomic history of JapanABSTRACT There are two views on “industrial policy”, negative and positive. Negative views say the market mechanism is the best way to allocate resources efficiently. Thus, government policy with preferential treatment for a specific industry hinders this market force and leads to a misallocation of resources. On the other hand, positive views say that state intervention is necessary since market forces sometimes fail to allocate resources efficiently. Broadly speaking, this is an issue on relationships between the state and the market, or to what extent we can rely on the “invisible hand” of Adam Smith.Centro de Economia Política1995-01-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31571995000100121Brazilian Journal of Political Economy v.15 n.1 1995reponame:Revista de Economia Políticainstname:EDITORA 34instacron:EDITORA_3410.1590/0101-31571994-0670info:eu-repo/semantics/openAccessKAGAMI,MITSUHIROeng2022-10-20T00:00:00Zoai:scielo:S0101-31571995000100121Revistahttps://centrodeeconomiapolitica.org.br/repojs/index.php/journalONGhttps://centrodeeconomiapolitica.org.br/repojs/index.php/journal/oai||cecilia.heise@bjpe.org.br1809-45380101-3157opendoar:2022-10-20T00:00Revista de Economia Política - EDITORA 34false
dc.title.none.fl_str_mv The role of industrial policy: Japan’s experience
title The role of industrial policy: Japan’s experience
spellingShingle The role of industrial policy: Japan’s experience
KAGAMI,MITSUHIRO
Industrial policy
economic development
Market failure
economic history of Japan
title_short The role of industrial policy: Japan’s experience
title_full The role of industrial policy: Japan’s experience
title_fullStr The role of industrial policy: Japan’s experience
title_full_unstemmed The role of industrial policy: Japan’s experience
title_sort The role of industrial policy: Japan’s experience
author KAGAMI,MITSUHIRO
author_facet KAGAMI,MITSUHIRO
author_role author
dc.contributor.author.fl_str_mv KAGAMI,MITSUHIRO
dc.subject.por.fl_str_mv Industrial policy
economic development
Market failure
economic history of Japan
topic Industrial policy
economic development
Market failure
economic history of Japan
description ABSTRACT There are two views on “industrial policy”, negative and positive. Negative views say the market mechanism is the best way to allocate resources efficiently. Thus, government policy with preferential treatment for a specific industry hinders this market force and leads to a misallocation of resources. On the other hand, positive views say that state intervention is necessary since market forces sometimes fail to allocate resources efficiently. Broadly speaking, this is an issue on relationships between the state and the market, or to what extent we can rely on the “invisible hand” of Adam Smith.
publishDate 1995
dc.date.none.fl_str_mv 1995-01-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31571995000100121
url http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31571995000100121
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 10.1590/0101-31571994-0670
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv text/html
dc.publisher.none.fl_str_mv Centro de Economia Política
publisher.none.fl_str_mv Centro de Economia Política
dc.source.none.fl_str_mv Brazilian Journal of Political Economy v.15 n.1 1995
reponame:Revista de Economia Política
instname:EDITORA 34
instacron:EDITORA_34
instname_str EDITORA 34
instacron_str EDITORA_34
institution EDITORA_34
reponame_str Revista de Economia Política
collection Revista de Economia Política
repository.name.fl_str_mv Revista de Economia Política - EDITORA 34
repository.mail.fl_str_mv ||cecilia.heise@bjpe.org.br
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