On Industrialization, Human Resources Training, and Policy Coordination
Journal of Industry, Competition and Trade(2022)
Abstract
This paper proposes a dynamic model using a general equilibrium approach and shows that the coordination of public policies with suitable human resources training is a key factor for an economy to industrialize. We analyze three public policy domains: innovation policies; policies regarding human resources training, including wages and employment; and push policies. The omission or implementation of public policies, as well as their coordination, defines whether an economy stagnates in a poverty trap, or on the contrary, whether the economy is activated through industrialization processes. Such outcomes depend on what the initial state of the economy is like: whether it is on the left or the right of the industrialization frontier. The viability of crossing the industrialization frontier will depend on how these types of policies are coordinated.
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Key words
Industrialization policy, Coordination, Technological change, Choice of technology, Push strategies, Evolutionary dynamics, C73, I28, J24, O25, O38
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