April 30, 2009—India's software-sector policies and China's promotion of special economic zones for manufacturing suggest that well-designed sector-specific government policies can overcome weaknesses in the investment climate and allow developing countries to compete globally in new industries, according to a new study by IFC.
New Industries from New Places offers important lessons for other countries hoping to emulate the success of China and India. It asserts that the two countries pursued policies to alleviate key bottlenecks such as access to power for manufacturing and broadband access for software companies, thus enabling globally competitive new industries to develop in spite of deficiencies in the national investment climate.
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AUTHORS |
Neil Gregory, Adviser, Financial & Private Sector Development
Stanley Nollen, Professor at Georgetown University
Stoyan Tenev, IFC Chief Evaluation Officer
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