There are two assumptions regarding regulatory instruments under the globalizing economy. These are: (1) increasing role of private standards in shaping the economic activities of developing countries; and (2) diminishing role of national institutions in "open" and "liberal" markets. In other...

Due to recent revival of interest on industrial policy, there have been many attempts to design policy tools to facilitate the successful emergence of new industry, which in turn may help developing countries to transform structurally to a developmental path. Often, however, the existing policy...