To Imagine A New Development Theory From The Global South
In 2015, the United Nations Conference on Trade and Development (UNCTAD) published a paper by the influential economist Robert H. Wade titled ‘The Role of Industrial Policy in Developing Countries’. Wade argued that virtually all successful attempts at late industrialisation (such as in Japan and South Korea) used interventionist state policies to foster industrial development and technological upgrading. In 2024, almost a decade later, the United Nations Industrial Development Organisation (UNIDO) released its flagship report ‘Turning Challenges into Sustainable Solutions: The New Era of Industrial Policy’, which made the case that industrial policy is a key instrument for sustainable development.