Industrialization, Trade and Market Failures : The Role of Government Intervention in Brazil and South Korea

This book challenges the established, neoclassical view of industrial success in developing countries. By re-examining the role of government intervention in the industrialization of Brazil and South Korea, it seeks to show that the key to industrial success does not lie in a simple combination of outward-orientation and laissez-faire, but in the government's success in remedying crucial market failures in the product and factor markets. Foreword / Sanjaya Lall -- 1. The Theoretical Background. 1.1. The Neoclassical View. 1.2. The Basis For An Alternative View -- 2. South Korea. 2.1. The Background: The Pre-1960 Period. 2.2. The 'neutral' Outward-oriented Regime (1960-72). 2.3. The Heavy And Chemical Industry (hci) Drive (1973-79). 2.4. The Liberalization (1980-90). 2.5. The Overall Picture -- 3. Brazil. 3.1. The 'unintentional' Industrialization: The Pre-1956 Period. 3.2. Heavy Industry 'at All Costs': The 1956-64 Period. 3.3. The Pragmatic 'miracle': The 1964-73 Period. 3.4. Heavy Industry Revisited: The 1974-79 Period. 3.5. The Dismal Decade: The 1980s -- 4. Summary And Conclusions. 4.1. Korea. 4.2. Brazil. Mauricio Mesquita Moreira ; Foreword By Sanjaya Lall. Includes Bibliographical References And Index. Challenging the established view of industrial success in developing countries, this book re-examines the role of government intervention in the industrialization of Brazil and South Korea. It seeks to show that the key to industrial success lies in the remedying of crucial market failures. As suggested in the introduction, the concepts of IS and EP regimes - which equate interventionism with inward-orientation and liberal policies with outward-orientation - are at the heart of the neoclassical answer to the performance differentials between the NICs. Front Matter....Pages i-xvi Introduction....Pages 1-3 The Theoretical Background....Pages 4-30 South Korea....Pages 31-86 Brazil....Pages 87-132 Summary and Conclusions....Pages 133-139 Back Matter....Pages 140-227