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successful industrial policy

It may be argued that Japan's explicit promotion of its microchip industry was an excellent example of successful industrial policy. What criteria would you apply to determine whether such a policy is or is not successful?

Judging from your own stated criteria, was Japan's exercise successful? Why or why not? Please explain in detail in 200 words or more.

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One of the major criteria to determine whether an industrial policy is successful or not is the level or degree of comparative advantage obtained by the industry in a particular country against other countries. In other words, if the government is able to develop strong comparative advantage in a particular industry via an integrated industry policy, we can say that such policy is successful. For example, Information Technology and BPO in India can be cited as an example of a successful industrial policy of ...

Solution Summary

It may be argued that Japan's explicit promotion of its microchip industry was an excellent example of successful industrial policy. The solution discusses what criteria would you apply to determine whether such a policy is or is not successful.

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