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Industrial Strategy: For Britain, in Europe and the World


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  • Christos Pitelis


Aims to examine the issue of industrial strategy (IS), paying particular attention to the case of Britain. Sets out to assess the possibility and nature of an industrial strategy for Britain, in Europe, and within the global scene, taking into account the world we live in as we see it. Accordingly, the perspective is driven and shaped by a quest for a realistic, feasible and sustainable industrial strategy. In order to achieve these objectives, first examines the theoretical arguments behind much of British, and more generally, Western industrial policies. Following this, outlines and assesses British industrial policy post-Second World War then compares and contrasts British industrial policy with that of Europe, the USA, Japan and the newly industrialized countries. Then examines recent developments in economics and management which may explain the “Far Eastern” miracle, and points to the possibility of a successful, narrowly self-interested, IS for Europe and Britain, based on the lessons from (new) theory and international experience. To assess what is possible, develops a theoretical framework linking firms in their roles as consumers and/or electors. This hints at the possibilities and limits of feasible policies. All these ignore desirability which, in the author's view, should be seen in terms of distributional considerations, themselves contributors to sustainability. Accordingly, discusses a desirable industrial strategy for Britain in Europe which accounts for distributional considerations, and goes on to examine its implications for the issue of North-South convergence. Concludes by pointing to the limitations of the analysis and to directions for developments.

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Bibliographic Info

Article provided by Emerald Group Publishing in its journal Journal of Economic Studies.

Volume (Year): 21 (1994)
Issue (Month): 5 (October)
Pages: 3-92

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Handle: RePEc:eme:jespps:v:21:y:1994:i:5:p:3-92

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Postal: Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK

Related research

Keywords: Competition; Economics; Industrial performance; Industry; Management; Strategy; Transnationals; United Kingdom;


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Cited by:
  1. J. Robert Branston & Lauretta Rubini & Roger Sugden & James Wilson, 2006. "The healthy development of economies: A strategic framework for competitiveness in the health industry," Review of Social Economy, Taylor & Francis Journals, vol. 64(3), pages 301-329.
  2. KAPITSINIS, Nikolaos & METAXAS, Theodore & DUQUENNE, Marie Noelle, 2013. "Exploring The Coherence And The Meaning Of Territorial Competition: Do National States Behave In The Same Way As Firms In Case Of Default?. The Cases Of Greece And Dubai," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 13(2), pages 57-72.
  3. Pitelis, Christos & Kelmendi, Pellumb, 2009. "The political economy of European anti-trust and industrial policy," MPRA Paper 23941, University Library of Munich, Germany.
  4. David Bailey & Nigel Driffield, 2007. "Industrial Policy, FDI and Employment: Still ‘Missing a Strategy’," Journal of Industry, Competition and Trade, Springer, vol. 7(3), pages 189-211, December.
  5. Pitelis, Christos & Pseiridis, Anastasia, 2007. "A Conceptual Framework for Firm Cooperation and Clusters and Their Impact on Productivity and Competitiveness," Papers DYNREG13, Economic and Social Research Institute (ESRI).
  6. Pitelis, Christos, 2009. "Foreign direct investment and economic integration," MPRA Paper 23938, University Library of Munich, Germany.
  7. Iammarin, Simona & Pitelis, Christos, 1999. "Foreign Direct Investment and "Less Favoured Regions". Greek FDI in Bulgaria and Romania," ERSA conference papers ersa99pa300, European Regional Science Association.


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