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923N1: Please discuss what are the trade-offs between innovation, structural change, and inclusion and how these affect the design: Innovation and Economic Development Essay, USBS, UK

Please discuss what are the trade-offs between innovation, structural change, and inclusion and how these affect the design of appropriate policies. To what extent can traditional industrial policies, and their emphasis on manufacturing, be applied to developing countries nowadays to foster structural change and inclusive outcomes?

What might that involve in terms of policy instruments and what difficulties and obstacles are policymakers likely to face? The use of an example of a country/sector is encouraged.

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