Figure 10: Evaluation evidence assessment framework (Matthews and White, 2013)
Overall, some of existing industrial policy reviews would conclude, there are three important aspects to keep in mind for industrial policy design and implementation (Rodrik, D. 2008): -
It must be well embedded locally, therefore cooperation with private and non-profit sector actors is critical; It must make full use, as necessary of both sticks and carrots, to avoid capture; It must ensure strong accountability, including transparency, openness and high degree of discussion.
2.7. Concluding assessment Following the review of literature and experiences in other countries, a number of lessons and insights are drawn as regards Singapore industrial policy in general and the ITP in particular. In a sequential order, in the following section a discussion will be provided as regards implications for Singapore
32
