02497cas a2200337 a 4500 AALejournalIMF023164 230101c9999 xx r poo 0 0eng d 9798400214271 20.00 USD 2616-5333 BD-DhAAL BD-DhAAL Cherif, Reda. Industrial Policy for Growth and Diversification : A Conceptual Framework / Reda Cherif, Fuad Hasanov, Nikola Spatafora, Rahul Giri. Washington, D.C. : International Monetary Fund, 2022. 1 online resource (31 pages) Departmental Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students As countries strive for a strong recovery and to recoup the losses incurred during the COVID-19 pandemic, they need to map out a new path for development and high and sustained growth. Promoting diversification, developing new industrial capabilities, and designing the policies needed to achieve this goal should be a priority. A successful diversification strategy should tackle both broad policy failures, such as an unfavorable business environment and investment climate and sector-specific market failures. This departmental paper presents a conceptual framework to analyze industrial policy, defined as targeted sectoral interventions. The authors first discuss the key principles that should guide policymakers, that is, a focus on the market failures that could justify targeted sectoral interventions, as well as the potential government failures that can undermine these interventions. The authors then discuss some commonly employed policy tools, their rationale, and the associated pitfalls. Finally, the authors outline a stylized decision-making framework. Mode of access: Internet Diversification imf Industrial Policy imf International Agreements and Observance imf International Organizations imf Political Economy imf Giri, Rahul. Hasanov, Fuad. Spatafora, Nikola. Departmental Papers; Departmental Paper ; No 2022/017 Full text available on IMF https://elibrary.imf.org/openurl?genre=journal&issn=2616-5333&volume=2022&issue=017 IMF e-Library