Stay updated with breaking news from Output networks. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Industrial policy has divided economists for decades. This column evaluates Korean government's policy of promoting heavy and chemical industries in the 1970s, using plant-level output and productivity data. It shows that output and input use of targeted industries/regions grew significantly faster than those of non-targeted ones. However, total factor productivity did not ....