Ha-Joon Chang
Biographic Data
| ID | 3654207 |
|---|---|
| NAME | Ha-Joon Chang |
| GIVEN NAMES | Ha-Joon |
| FAMILY NAME | Chang |
| SIGNATURE | CHANG H |
| AFFILIATIONS | , |
| VERIFIED | No |
| TOTAL WORKS | 57 |
| TOTAL CITATIONS | 166 |
| AUTHOR COUNT | 22 |
| EDITOR COUNT | 35 |
| FIRST PUBLICATION YEAR | 1993 |
| LATEST PUBLICATION YEAR | 2021 |
| H-INDEX | 6 |
Building pro-development multilateralism: Towards a “New” New International Economic Order
This paper explains how a “New” New International Economic Order (NNIEO) may be emerging from the slowly crumbling neoliberal international economic order that came into being in the 1980s and 1990s. First, it examines how the neoliberal order has been fading and is being reshaped in the wake of the decline of the multilateral international trading system (embodied by the World Trade Organization (WTO)) and the 2008 global financial crisis. It th…
Bringing Production Back into Development: An introduction
Natura Non Facit Saltus: Challenges and Opportunities for Digital Industrialisation Across Developing Countries
The Missing Dimensions of the Human Capabilities Approach: Collective and Productive
Successes and Failures of Industrial Policy in Transition Economies of Europe and Asia
This chapter discusses the achievements and failures of various models of industrial policy in post-communist countries. If industrial policy is needed, how are industries that have to be supported to be selected? What are the appropriate tools/instruments to support particular industries? Eastern European countries in general did not have any explicit industrial policy, either via tax concessions and/or subsidies, or via under/overpricing the ex…
Industrial Policies in the BRICS
This chapter discusses industrial policy in the BRICS. It contributes to the literature in three ways. First, by approaching the BRICS as a single entity, it documents the gradual buy-in to the concept of BRICS by the participating countries, and their efforts at strengthening collaboration, including on industrial development matters. Second, it corroborates that differences in individual development paths influence the expected contribution of …
Latin American Industrial Policies: A Comparative Perspective
This chapter analyses the evolution of industrial policy in the four largest Latin American economies—Brazil, Mexico, Argentina, and Colombia—using Korea as a benchmark. Three phases in industrial policy and industrial transformation are identified: a period of state-led industrialization between the end of the Second World War and around 1980, which came to an end with the debt crisis of the 1980s; the 1990s, when the region abandoned industrial…
Globalization Narratives and Industrial Policy
Competing narratives of globalization constitute parameters that both constrain industrial policymaking and provide opportunities to negotiate alternatives. Such representations of globalization are powerful precisely because they can become objectified as policy. They are also compelling because the literature on industrial policy has so far largely left them out. Focusing on the BRICS (Brazil, Russia, India, China, and South Africa), this chapt…
Greening Industrial Policy
The scope of industrial policy is broadened in this chapter to encompass energy, materials, and finance. Given the unprecedented scale of the industrialization of India, China, and the late latecomers in Africa, Asia, and Latin America, the traditional options of fossil fuels, linear economy, and generic finance have been found wanting, for reasons of immediate environmental spoliation but also to do with countries running up against geopolitical…
Industrial Policy and Industrialization in South East Asia
The latecomer industrialization thesis has acted as a powerful instrument in promoting industrialization. However, there is little explanation in the literature as to why some economies that attempted to industrialize are facing premature de-industrialization. This chapter provides an assessment of industrialization in the South East Asian market economies of Indonesia, Malaysia, the Philippines, Singapore, and Thailand, examining policies that s…
Grand Challenges, Industrial Policy, and Public Value
Policymakers are increasingly embracing the idea of using industrial and innovation policy to tackle societal ‘grand challenges’ such as the climate emergency. In this article we argue that challenge-led policies require a new conceptual and analytical framework that has at its core the idea of confronting the direction of growth—growth that is, for example, more inclusive and sustainable. Such framework should focus on public value creation thro…
The European Union’s Industrial Policy
This chapter reviews the industrial policy in the European Union in the light of the revived interest in the subject and the most pressing challenges ahead. In the current global context these challenges are (i) to keep pace at the technology frontier with the technologically most advanced economies; (ii) to meet the challenges of fast catching-up emerging economies; (iii) to contribute to the convergence and cohesion processes within the Europea…
Global Value Chains and Regionally Coordinated Industrial Policy: The Case of Asean
The well-documented failures of the liberal policy regimes of the period 1980–2007 to generate sustained economic growth and development have led in the past ten years to a renewed interest in industrial policy. The re-emergence of industrial policy occurs in a new world of well-developed GVCs in major industries with integrated regional economies. This chapter assesses the success of industrial policy in this context by considering the case of t…
The Theory and Practice of Industrial Policy
This chapter reviews the theory and practice of industrial policy, focusing on three key themes. First, it presents industrial policy as a vehicle by which manufacturing (and other dynamic and high-productivity services and agricultural activities that share technological and linkage spillovers) drives structural change. It also underlines the strategic role of exports, especially as a source of international learning and relaxing balance-of-paym…
European Industrial Policy: A Comparative Perspective
This chapter examines industrial policy implemented in European countries across time, especially after the Second World War and in recent years. It briefly shows that industrialization never occurs without strong supporting industrial policy to provide the enabling conditions for the deep structural changes involved, such as infrastructure and capabilities, especially human capital. Industrialization in the eighteenth and nineteenth centuries is…
Enterprises and Industrial Policy: Firm-based Perspectives
This chapter considers the central role of firm strategies in industrial policy. It focuses, in particular, on large firms which can make investments to realize economies of scale and scope, coordinate clusters of suppliers, and build capabilities. The main schools of thought addressing the theory of the firm and the development of productive capabilities are reviewed, especially with reference to the resource-based theory of the firm. Large firm…
Industrial Policies, Patterns of Learning, and Development: An Evolutionary Perspective
This work discusses the role of industrial policies within an evolutionary view of innovation and learning as drivers of economic development. Building on the notions of technological paradigms and trajectories, it links the processes of catching up with the dynamics of capability accumulation within and across firms. Technological paradigms provide a structure to the knowledge embodied in individual and, even more importantly, in organizational …
Technological Disruptions, GVCs, and Industrial Policy
This chapter examines the impact of technological change on global value chains (GVCs) and what initiatives and instruments governments in advanced economies can deploy to support firms and people during the transition. Drawing on an emerging debate on de-globalization , we discuss how global production is slowly shifting from being organized in GVCs to continental platforms with shorter and geographically closer relationships as firms seek to co…
Neoclassical Economic Perspectives on Industrial Policy
Conventional welfare economics has always recognized that the real world is characterized by market imperfections, which provide a rationale for policy intervention. The early analysis of this focused on tax-subsidy solutions and the implications of domestic ‘distortions’ for the case for free trade. The full implications of market imperfections for policy were brought out clearly in the early 1970s by Corden’s concept of the ‘policy hierarchy’. …
The Political Economy of Industrialization and Industrial Policy in Africa, 1960‒2018
This chapter examines industrial policy (IP) in Africa from late colonial times to the present. It focuses on explanations of the failure of African countries to transcend the first stage of import substitution and effect the structural transformation of their economies. These explanations lie in the nature of a country’s power relations, their interaction with foreign capital and international institutions, and their effect on the ability of the…
Phases and Uneven Experiences in African Industrial Policy
The chapter examines the challenges of implementing industrial policy in selected sub-Saharan African (SSA) countries with a particular focus on raising the capabilities of locally owned firms. Under hyper-globalization, entry even into the lowest rungs of global value chains is challenging, as reflected by Ethiopia’s efforts to enter apparel production and Kenya’s and Rwanda’s experience with global value chains in knowledge-based services. Nige…
Macro-Policy, Labour Markets, and Industrial Policy
Debates on industrialization and industrial policy have historically had a supply-side bias: development planners focused on strengthening inter-industry linkages, mobilizing savings to finance investment, and the accumulation of technological knowledge. Aggregate demand was expected to accommodate and even facilitate the structural change brought about by the industrialization process. However, botched industrialization experiences in South East…
Radical Perspectives on Industrial Policy
This chapter surveys, evaluates, and develops radical perspectives on industrial policy. We examine the differences between mainstream and heterodox approaches to economic and industrial development, and we look at the similarities and differences between structuralist and Marxist approaches. We argue that Marx’s concern is not with sectors but with value and the overall circuit of capital. Radical industrial policy foregrounds class and capitali…
Industrial Policy and Gender Inclusivity
The economics of development and structural change highlight the importance of industrialization as a means for countries to move from poverty to higher living standards and well-being. Industrial policy—that is, an articulated path to industrialization and the production of higher valued-added goods and services—is a means to achieve that goal. A key question is how to make industrial policy gender-inclusive. This chapter begins by identifying g…
Industrial Policy, Macroeconomics, and Structural Change
The main argument of this chapter is that the key to rapid economic growth is the dynamic efficiency of economic structures, defined as their capacity to generate new waves of innovative activities. After reviewing the empirical literature that confirms this view, the chapter argues that the dynamics of production structures may be visualized as the interaction between two basic forces: innovations (broadly defined) and the learning processes ass…
Korea: The misunderstood crisis
Rethinking public policy in agriculture: Lessons From History, Distant and Recent
This article reviews the histories of agricultural policy in 11 of today's developed countries between the late-nineteenth and the mid-twentieth century and in 10 developing and transition economies since the mid-twentieth century. After discussing the theoretical limitations of the prevailing orthodoxy, the article discusses the history of a wide range of agricultural policies concerning issues like land, knowledge (e.g., research, extension), c…
The Hazard of Moral Hazard: Untangling the Asian Crisis
Kicking away the financial ladder? German development banking under economic globalisation
While extensive literature exists on how economic globalisation has limited developing countries' policy space for industrial policy, the literature on how it has affected advanced economies remains scant. We utilise original archival material to analyse the activities of the German public development bank, the Kreditantstalt für Wiederaufbau (KfW), in order to shed light on an important, but neglected aspect of German industrial policy. We analy…
Regulation of Foreign Investment in Historical Perspective
The Ethics of Labor Immigration Policy
This article examines the key ethical questions in the design of labor immigration programs. We propose a two-dimensional matrix of ethical space that isolates a number of different ethical frameworks on the basis of the degree of consequentialism they allow and the moral standing they accord to noncitizens. We argue for the rejection of extreme ethical frameworks and propose criteria that should guide national policymakers in their choice and ap…
Bringing Production Back into Development: An introduction
The Missing Dimensions of the Human Capabilities Approach: Collective and Productive
Economic reform after the financial crisis: A critical assessment of institutional transition and transition costs in South Korea
This paper assesses the structural reform after the financial crisis in Korea by investigating its benefits and costs to the economy. It argues that Korea's rapid economic recovery in 1999–2000 was a Keynesian recovery, not a reform-led one. It also argues that, despite the fact that there has been a significant advancement in formal changes in institutions, economic costs arising from attempting a radical institutional transition have been undul…
The Myth of Free Labour Market in Korea
The paper challenges the conventional view that a free labour market has played a crucial role in producing good growth and equity performance in Korea. The paper first shows that this view is based on problematic models of growth and equity, and that it is not supported by the empirical evidence from Korea even in its own terms. Then we discuss the conceptual problems with the notion of ‘free labour market’. It is pointed out that, without expli…
Natura Non Facit Saltus: Challenges and Opportunities for Digital Industrialisation Across Developing Countries
Bringing production and employment back into development: Alice Amsden’s legacy for a new developmentalist agenda
Building on Alice Amsden’s legacy, the article criticises the currently dominant view of development for its neglect of production and employment. To remedy its shortcomings, the article introduces a new theoretical synthesis that sees development as a process of production transformation, led by the expansion of collective capabilities and resulting in the creation of good quality jobs and sustainable structural change. Within this new developme…
Reclaiming Development: An Alternative Economic Policy Manual
Child Migration in Africa explores the mobility of children without their parents within West Africa. Drawing on the experiences of children from rural Burkina Faso and Ghana, the book provides rich material on the circumstances of children’s voluntary migration and their experiences of it. Their accounts challenge the normative ideals of what a ‘good’ childhood is, which often underlie public debates about children's migration, education and wor…
The political economy of industrial policy in Korea
Ha-Joon Chang; The political economy of industrial policy in Korea, Cambridge Journal of Economics, Volume 17, Issue 2, 1 June 1993, Pages 131–157, https://doi.
The Myth of Free Labour Market in Korea
The paper challenges the conventional view that a free labour market has played a crucial role in producing good growth and equity performance in Korea. The paper first shows that this view is based on problematic models of growth and equity, and that it is not supported by the empirical evidence from Korea even in its own terms. Then we discuss the conceptual problems with the notion of ‘free labour market’. It is pointed out that, without expli…
The role of the state in economic change
The role of the state has occupied centre stage in the development of economics as an independent discipline and is one of the most contentious issues addressed by contemporary economists and political economists. The immediate postwar years saw a swing in economic theory towards interventionism, motivated by the urgent need for reconstruction in advanced capitalist countries, the establishment of socialism in parts of Asia and Eastern Europe, an…
The Transformation of the Communist Economies: Against the Mainstream
The mainstream view of the way in which best to transform the communist economies was that there should be a rapid transition to a free market economy and political democracy. The articles in this boo
South Korea
Essay| December 01 1998 South Korea: Anatomy of a Crisis Ha-Joon Chang Ha-Joon Chang Ha-Joon Chang is a professor of economics in the faculty of economics and politics at Cambridge University. He is the author of The Political Economy of Industrial Policy (New York: St. Martin’s, 1994), and coeditor with Bob Rowthorn of The Role of the State in Economic Change (Oxford: Oxford University Press, 1995). This article draws on “Korea: The Misunderstoo…
Globalization and Progressive Economic Policy
The authors of this book challenge mainstream thinking about the nature of globalization. While not hostile to markets per se, they believe that capitalist market processes, left to operate freely, tend to generate injustice, insecurity, instability, and inefficiency. Taking account of the new realities of globalization, this volume explores an unusually wide range of subjects, including trade integration, multinational corporations, labor market…
Korea: The misunderstood crisis
Institutions and the Role of the State
The Hazard of Moral Hazard: Untangling the Asian Crisis
Other books in review
Intellectual Property Rights and Economic Development: Historical lessons and emerging issues
(2001). Intellectual Property Rights and Economic Development: Historical lessons and emerging issues. Journal of Human Development: Vol. 2, No. 2, pp. 287-309.
Financial Liberalization and the Asian Crisis
Kicking Away the Ladder: Neoliberals Rewrite History
There is currently great pressure on developing countries to adopt a set of "good policies" and "good institutions"—such as liberalization of trade and investment and strong patent law—to foster their economic development. When some developing countries show reluctance in adopting them, the proponents of this recipe often find it difficult to understand these countries' stupidity in not accepting such a tried and tested recipe for development. Af…
The Role of Social Policy in Economic Development: Some Theoretical Reflections and Lessons from East Asia
During the heady days of neo-liberal counter-revolution in the 1980s, the World Bank and the IMF prided themselves on not wasting their time on ‘soft’ things like social policy in designing their ‘structural adjustment programmes’. In the older, hardcore version of neo-liberal orthodoxy that had prevailed until the early 1990s, diverting resources to social policy, which softens the blow of the adjustment on the weaker sections of the society, wa…
Regulation of Foreign Investment in Historical Perspective
The Ethics of Labor Immigration Policy
This article examines the key ethical questions in the design of labor immigration programs. We propose a two-dimensional matrix of ethical space that isolates a number of different ethical frameworks on the basis of the degree of consequentialism they allow and the moral standing they accord to noncitizens. We argue for the rejection of extreme ethical frameworks and propose criteria that should guide national policymakers in their choice and ap…
Economic reform after the financial crisis: A critical assessment of institutional transition and transition costs in South Korea
This paper assesses the structural reform after the financial crisis in Korea by investigating its benefits and costs to the economy. It argues that Korea's rapid economic recovery in 1999–2000 was a Keynesian recovery, not a reform-led one. It also argues that, despite the fact that there has been a significant advancement in formal changes in institutions, economic costs arising from attempting a radical institutional transition have been undul…
Rethinking public policy in agriculture: Lessons From History, Distant and Recent
This article reviews the histories of agricultural policy in 11 of today's developed countries between the late-nineteenth and the mid-twentieth century and in 10 developing and transition economies since the mid-twentieth century. After discussing the theoretical limitations of the prevailing orthodoxy, the article discusses the history of a wide range of agricultural policies concerning issues like land, knowledge (e.g., research, extension), c…
Reclaiming Development: An Alternative Economic Policy Manual
Child Migration in Africa explores the mobility of children without their parents within West Africa. Drawing on the experiences of children from rural Burkina Faso and Ghana, the book provides rich material on the circumstances of children’s voluntary migration and their experiences of it. Their accounts challenge the normative ideals of what a ‘good’ childhood is, which often underlie public debates about children's migration, education and wor…
Instituciones y desarrollo económico: Teoría, Políticas E Historia
Este artículo busca avanzar en nuestro entendimiento del institucionalismo económico, examinando críticamente el actual discurso dominante sobre la relación entre instituciones y desarrollo económico. Primero, sostendré que el discurso sufre de un conjunto de problemas teóricos su rechazo a la línea de causalidad desde desarrollo a instituciones, su incapacidad de ver la imposibilidad del libre mercado, y su creencia de que el mercado más libre y…
Bringing production and employment back into development: Alice Amsden’s legacy for a new developmentalist agenda
Building on Alice Amsden’s legacy, the article criticises the currently dominant view of development for its neglect of production and employment. To remedy its shortcomings, the article introduces a new theoretical synthesis that sees development as a process of production transformation, led by the expansion of collective capabilities and resulting in the creation of good quality jobs and sustainable structural change. Within this new developme…
Kicking away the financial ladder? German development banking under economic globalisation
While extensive literature exists on how economic globalisation has limited developing countries' policy space for industrial policy, the literature on how it has affected advanced economies remains scant. We utilise original archival material to analyse the activities of the German public development bank, the Kreditantstalt für Wiederaufbau (KfW), in order to shed light on an important, but neglected aspect of German industrial policy. We analy…
Successes and Failures of Industrial Policy in Transition Economies of Europe and Asia
This chapter discusses the achievements and failures of various models of industrial policy in post-communist countries. If industrial policy is needed, how are industries that have to be supported to be selected? What are the appropriate tools/instruments to support particular industries? Eastern European countries in general did not have any explicit industrial policy, either via tax concessions and/or subsidies, or via under/overpricing the ex…
Industrial Policies in the BRICS
This chapter discusses industrial policy in the BRICS. It contributes to the literature in three ways. First, by approaching the BRICS as a single entity, it documents the gradual buy-in to the concept of BRICS by the participating countries, and their efforts at strengthening collaboration, including on industrial development matters. Second, it corroborates that differences in individual development paths influence the expected contribution of …
Latin American Industrial Policies: A Comparative Perspective
This chapter analyses the evolution of industrial policy in the four largest Latin American economies—Brazil, Mexico, Argentina, and Colombia—using Korea as a benchmark. Three phases in industrial policy and industrial transformation are identified: a period of state-led industrialization between the end of the Second World War and around 1980, which came to an end with the debt crisis of the 1980s; the 1990s, when the region abandoned industrial…
Economics (51 works) · Political science (44 works) · Market economy (29 works) · Industrial policy (28 works) · Business (25 works) · Economic system (25 works) · International trade (21 works) · Asian Industrial and Economic Development (19 works) · Politics (17 works) · Law (16 works)