WIDER Annual Lecture 15: New Structural Economics, by Justin Yifu Lin, Senior Vice President & Chief Economist of The World Bank. Maputo, Mozambique.
Video of this event may be viewed from: http://vimeo.com/24252747
‘The West took 200 years to innovate and industrialize, Japan less than 100, and East Asia took only 40 to develop like flying geese and catch up. Like their forerunners, China and India have exploited their low-wage advantage to power labour-intensive manufacturing and service industries and accelerate growth. While wages rise in the ‘Asian dragons’, what can poorer country governments do to catch up? In the new structural economics and the growth identification and facilitation, I will present a framework that can guide governments of poorer countries on how to foster new industries which reflect its latent comparative advantage. A forthcoming World Bank report, African Competitiveness in Light Manufacturing Industries, shows how African governments can jump start the manufacturing sector, but the results apply to other poor countries keen to industrialize and catch up.’
Justin Yifu Lin - Annual Lecturer 15
Senior Vice President & Chief Economist, The World Bank
This event organized in collaboration with the Government of Mozambique.