Long term self-generated economic growth, International Economics

Assignment Help:

Q. It can be argued that Japan's explicit promotion of its microchip industry was an excellent paradigm of successful industrial policy. What criteria could you apply to calculate whether such a policy is or is not successful? Judging from your own stated criteria, was Japan's exercise successful? Why or why not? What information would a government needs in order to increase the probability that its industrial policy could promote long term self-generated economic growth?

Answer: It is dispute that Japan's subsidies to its nascient microchip industry were an important factor in putting Japan on the world map in this area. Though minimal criteria for a successful industrial policy would be that the infant industry mature and that it prove to be a profitable area of the country's comparative benefit, In this case one might dispute that the latter part of the above statement wasn't fulfilled since the microchip industry was adopted by thus many countries that it became a "commodity". Specifically it became a product with a very low profit margin which wasn't really a good use of Japan's resources given their alternative uses.


Related Discussions:- Long term self-generated economic growth

INTERNATIONAL TREAD, WHATE IS THE PROPERTY OF OFFER CURVE OF A COUNTRY

WHATE IS THE PROPERTY OF OFFER CURVE OF A COUNTRY

What are the main functions of money, Q. What are the main function...

Q. What are the main functions of money? Answer: Money serves generally three important functions that are a unit of account, a medium of exchange and a store of value.

Important benefits enjoyes by companies through TRIPs, Describe the importa...

Describe the important benefits enjoyed by indian companies through TRIPs. Elaborate the main objective of WTO in global ecomommy

Haberler opportunity cost, Explanation of haberler opportunity cost with di...

Explanation of haberler opportunity cost with diagrams

Explain mutual exchange rate to float, Q. Explain why it may make sense for...

Q. Explain why it may make sense for the United States, Japan, and Europe to allow their mutual exchange rate to float? Answer: Even though these regions trade amid each other

Trading, suppose that France has a trade surplus with the united kingdom, w...

suppose that France has a trade surplus with the united kingdom, what would you expect to happen to price,wages, and commodity price in France? why? what would happen to the terms

Firms compete only through diversifying their prices, It is often argued th...

It is often argued that firms compete only through diversifying their prices. Do you agree with this view? Justify your answer using examples / case studies form the Greek and/or t

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd