Justin argues that a country's industrial makeup is the product of its intrinsic strengths and advantages determined by its 'factor endowments', including its workforce, natural resources, or human and physical capital. More importantly, in his framework, while competitive market should be the economy's fundamental mechanism for resource allocation at each stage of its development, the role of 'facilitating state' is deemed crucial during the process of industrial upgrading when these factor endowments shift and when a country upgrades its industrial structure from one stage to another. Most interestingly, Justin, in a full chapter in 'The Quest for Prosperity: How Developing Economies Can Take Off', lays out a six-step approach where a government could put the new structural economics into practice and adapt its industrial policies based on the country's development stage.
林毅夫认为,一个国家的产业结构是由其内在的比较优势决定的,包括劳动力、自然资源、人力资本和物质资本等要素禀赋。值得一提的是,林毅夫指出,在经济发展的每一个阶段,竞争性市场都应该是最基本的资源配置机制。但是,当一个国家在产业升级过程中,相关的要素禀赋和产业结构正在发生根本性转变时,政府的促进作用也是至关重要的。林毅夫在《繁荣的求索:发展中经济如何崛起》一书中更进一步用一整章的篇幅提出了政府支持产业发展的六步甄别,将新结构经济学付诸实践,详细介绍了政府如何根据特殊发展阶段来调整其产业政策。
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