How Nations Succeed: Manufacturing, Trade, Industrial Policy, and Economic Development

Murat A. Yülek is the Director of the Centre for Industrial Policy and Development at Istanbul Commerce University and has also taught at Georgetown University. A widely published former IMF economist and a corporate executive, he has had responsibilities that include corporate finance, development and macroeconomic policy in various countries.

• 1.  The Old World Order: Trade before the empires on which the sun never set.- 2. The Pre-Industrial New World Order: Colonial empires on which the sun never set.- 3. British Colonial Empire and Industrial Policy: Protection, Monopolized Trade and Industrialization.- 4. How Industrialized Nations Industrialized.- 5. The “Why” of manufacturing.- 6. Global Imbalances: Export-led growth vs import-led slow down.- 7. Value Added and the GDP: The smart vs the donkey.- 8. The industrialization process: A streamlined version.- 9. The Industrial Layer.- 10. Industrialization as capacity building: Skills, technical progress and technical capabilities.- 11. The State and State Capacity.- 12. The “How” of manufacturing: Industrial Policy.- 13. Industrial Policy: Some Case Studies from Today’s World.- 14. Putting it all together: How nations succeed through industrial policy.

“The book provides contemporary case studies of successful episodes of industrial policy, such as Sweden’s Saab, Europe’s Airbus and South Korea’s automobile and nuclear reactor industries. Overall, this book is an excellent volume on industrial development and sustainable policies to drive this. One can only expect that the book will have a wide readership, and the information contained within it will be able to change perspectives of the industrial process.” (Uchenna R. Efobi, LSE Review of Books, blogs.lse.ac.uk, March 21, 2019)