Industrial restructuring : policy and practice

Abstract

Industrial restructuring involves actions by enterprises to bridge gaps between their current performance and what is required to become internationally competitive. This paper examines the reasons for restructuring and oulines the policies and institutions needed to make it effective. The evolution of Bank lending for industrial restructuring is described, with lessons learned from past operations highlighted. The purpose of the paper is to provide guidance on the design and implementation of Bank supported industrial restructuring programs. The paper identifies key industry and trade policies; outlines elements of successful approaches to subsector and enterprise restructuring; and describes the financial instruments and institutions required to promote industrial restructuring.

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