Industrial development strategies, the foundation of national policies and economic policies world wide, help strengthen the economies of developing countries and economies in transition. This article will provide an overview and analysis of the relationship between industrial development strategies, economic globalization, and emerging markets as well as a brief discussion of the international support for industrial development strategies. Issues related to the relationship between industrial development strategy and technological development will be described.
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Industrial development strategies that encourage general growth but trust the market and other economic forces to guide its implementation. Industrial development strategies that seek to stimulate industrialization by governmental efforts including general tax, fiscal, and monetary policies as well as support for product research and design (R& D). Industrial development strategies that promote specific industrial sectors including influencing decision making of companies and government willingness to make investments in research, design, and production (Driscoll & Behrman, 1984).
