Chapter

An Empirical Analysis of Industrial Policy in Morocco

Ahmed Galal

in Industrial Policy in the Middle East and North Africa

Published by American University in Cairo Press

Published in print April 2008 | ISBN: 9789774160509
Published online September 2011 | e-ISBN: 9781617970290 | DOI: http://dx.doi.org/10.5743/cairo/9789774160509.003.0004
An Empirical Analysis of Industrial Policy in Morocco

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Two extreme views often seem to have dominated the discussions of the role of the government in socioeconomic development. The first view has been that effective government is not only necessary due to market failure but possibly even sufficient to achieve economic development. The second view is associated with the neoclassical counter-revolution or new orthodoxy school, which has its roots in the thought of Friedrich von Hayek. These two extreme views become clearer when one looks at the particular field of industrial policy in developing countries. From the second point of view, industrial policy elicits very strong reactions, while the first view sees it somehow as the magic bullet for resolving urgent problems of economic growth. The Moroccan state has pursued its policies of picking winners and losers through its credit policy.

Keywords: role of government; socioeconomic development; neoclassical counter-revolution; orthodoxy; Moroccan state

Chapter.  10476 words.  Illustrated.

Subjects: International Relations

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