Industrial Development Strategy from Perspective of New Structural Theory (Based on Experience of Leading Developing Countries)

The last decades witnessed a limited number of countries managing to convergence with developed countries, but at the same time, divergence between other undeveloped countries and the developed ones has accelerated. Study of the convergence process has been the main topic of research by the economists of realm of economic development in sevral decades, and the new structural economics attempts to reconstruct the path of successful countries to make it practical and achievable for other developing countries. While explaining theoretical basics of industrial development strategy of New Structural Economics, this study will also present the principles and characteristics of this strategy and applied framework for facilitating and identifying its growth. Characteristics of this strategy, includes methods of benchmarking of countries with a similar structure in terms of production factors and considering to the comparative advantage of product sectors and sub-sectors arising from the structure of factors assets. It also includes export-oriented industrialization, considering to foreign direct investment in and out of the developing countries, intelligently combining state and market in order to achieve industrial development, assigning facilitating duties for the government in this connection, and adopting continuous process of upgrading in the way to industrial development.