Managing structural transformation is a big challenge at all levels of development. In part, that is because the mixture of creative and destructive forces accompanying such a transformation do not automatically translate into a virtuous growth circle while the rents that are inevitably created in the process can be captured by a privileged group in ways that clog the economic arteries and increase the dangers of a political stroke. There are already signs of this happening with the digital revolution. However, this is not inevitable and if history is any guide, public policy, including industrial policy, can help to manage more inclusive and sustainable outcomes. The chapter Ⅲ set out some elements of that agenda.
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