Genesis of Chilean salmon farming

Abstract

Industrial development and economic transformation have recently been attracting renewed attention. Among the significant and growing research on industrial policy, however, only a small proportion has focused on the early phases of industrial development—an essential area, as this nascent phase is quite different from the later stages of industrial development. The existing literature places importance on the accumulation of knowledge and capabilities (Cimoli et al. 2009) and creation of a learning society (Stiglitz and Greenwald 2014). Knowledge creation, capability building and learning processes are crucial factors that cannot be optimally managed via market forces. Consistent under-investment in these areas by the private sector provides a basis for arguments justifying policy intervention. However, there is no clear consensus in the existing policy-related literature regarding the type of policy interventions necessary for industrial development, the degree and duration (Rodrik 2007) or the selection of areas for intervention (Lin and Chang 2009).