GOVTS INTERVENED TO FOSTER DEVELOPMENT.
POLICY INTERVENTIONS TOOK MANY FORMS:
Targeted and subsidized credit to selected industries
Low deposit rates and ceilings on borrowing rates to increase
profits and retain earning
Protection of domestic import substitutes
Subsidies to declining industries
Establishment and financial support of Government banks
Public investment in applied research
Firm- and industry- specific export targets
Development of export marketing institutions
Wide sharing of information between public and private
sectors