Small and Medium-Sized Enterprises and Governmental Public Policy in the Economic Development Process
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概要
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The historical development data show that countries all over the world have experienced different economic growth rates. In the history of economic development, there have been specific periods in which some countries in Asia, such as Japan, experienced a high economic growth rate while other countries in Europe and in America grew with a much lower rate. So far, many researches have referred to the Small and Medium-sized Enterprises (SMEs) as an important source for economic development in Japan and in the Newly Industrializing Economies (NIEs). Currently, governments of the developing countries are pursuing economic development strategies by, among other things, promoting the development of the SMEs. Some implemented public policies provide a high level of protection for the SMEs', especially for those in the newly established manufacturing industries. One may question on the efficiency and effectiveness of these policies or the role of the SMEs in helping the governments to achieve their development targets ; or is it now feasible for the current developing countries to adopt the same strategies that the developed country like Japan had applied when it was a developing country? The main purpose of this paper is to highlight the interrelationship between the Government and the SMEs in the economic development process. More precisely, this paper surveys the theories that have erected one of the foundations for the governmental intervention through public policies toward economic development and clarifying the role of the SMEs during that process. Guided by this purpose, this paper is organized into four sections. The first section reviews the SMEs concept and their difficulties. The second section examines the historical role of the governments, their intervention measures and the rationale for these actions. Section three presents the "Marshallian Externalities"-a foundation justifying the governmental intervention. Economists have proved that when Marshallian Externalities exists, economic welfare under the condition of governmental intervention could be achieved at a much higher level than it would be under the control of market mechanism. The last section discusses the roles of the SMEs during the economic development process.
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関連論文
- Small and Medium-Sized Enterprises and Governmental Public Policy in the Economic Development Process
- State-Owned Enterprises and Equitizaition Policy : Determinants of Technical Efficiency