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UK Industrial Policy: Old Tunes on New Instruments?

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  • John Beath

Abstract

This paper discusses the current Labour government's industrial policy--as most recently reflected in its document on manufacturing strategy--in the context of industrial policy in the UK over the last 50 years and the form that it has taken elsewhere in Europe. It concludes that the thematic priorities for UK industrial policy in the 1960s--international competitiveness, innovation, competition, and skills--continue to be the key themes of UK policy today. The paper presents data that illustrate the gaps that exist in key indicators of performance between the UK and its main economic competitors. The difference between the 1960s and the 2000s is that there are new instruments of policy. Two areas in particular are focused on--competition policy and technology policy--and an attempt is made to assess the likely effectiveness of these new instruments. The paper concludes that the international evidence base for these new approaches is reasonably robust but that it is still too soon to tell if they are having the hoped-for impact on the performance of the UK economy. Copyright 2002, Oxford University Press.

Suggested Citation

  • John Beath, 2002. "UK Industrial Policy: Old Tunes on New Instruments?," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 18(2), pages 221-239, June.
    • Handle: RePEc:oup:oxford:v:18:y:2002:i:2:p:221-239
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    Cited by:

    1. Peter Mayerhofer & Matthias Firgo & Stefan Schönfelder, 2015. "Vierter Bericht zur internationalen Wettbewerbsfähigkeit Wiens," WIFO Studies, WIFO, number 60625, April.
    2. George Petrakos & Dimitrios Kallioras & Ageliki Anagnostou, 2006. "Determinants of Industrial Performance in the EU-15 Countries, 1980-2003," ERSA conference papers ersa06p134, European Regional Science Association.
    3. Finbarr Livesey, 2012. "Rationales for Industrial Policy Based on Industry Maturity," Journal of Industry, Competition and Trade, Springer, vol. 12(3), pages 349-363, September.
    4. Olga A. Romanova, 2019. "Evolution of institutions for new industrial policy implementation," Upravlenets, Ural State University of Economics, vol. 10(3), pages 14-24, July.
    5. Karl Aiginger & Susanne Sieber, 2009. "Industriepolitik in Österreich: von selektiver Intervention zu einem systemischen Ansatz?," WIFO Working Papers 337, WIFO.
    6. Coad, Alex & Segarra, Agustí & Teruel, Mercedes, 2016. "Innovation and firm growth: Does firm age play a role?," Research Policy, Elsevier, vol. 45(2), pages 387-400.
    7. Andrew Crawley & Max Munday, 2017. "Priority sectors in city regions? Some issues from a study of the Cardiff Capital Region," Local Economy, London South Bank University, vol. 32(6), pages 576-589, September.
    8. Emine Demet EKİNCİ HAMAMCI, 2019. "Regional Competitiveness in Turkey," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 69(1), pages 67-101, June.
    9. Ross Brown & Colin Mason, 2012. "Raising the batting average: Re-orientating regional industrial policy to generate more high growth firms," Local Economy, London South Bank University, vol. 27(1), pages 33-49, February.
    10. Olga Romanova, 2018. "Industrial Policy Priorities of Russia in the Context of Challenges of the Fourth Industrial Revolution. Part 1," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(2), pages 420-432.
    11. Karl Aiginger, 2007. "Industrial Policy: A Dying Breed or A Re-emerging Phoenix," Journal of Industry, Competition and Trade, Springer, vol. 7(3), pages 297-323, December.
    12. Peter Mayerhofer & Peter Huber & Stefan Schönfelder, 2012. "Oberösterreichs Wirtschaft im europäischen Wettbewerb. Erfolge, Defizite, Handlungsoptionen," WIFO Studies, WIFO, number 46983, April.
    13. Kantola, Anu & Seeck, Hannele, 2011. "Dissemination of management into politics: Michael Porter and the political uses of management consulting," LSE Research Online Documents on Economics 49805, London School of Economics and Political Science, LSE Library.
    14. Peter Mayerhofer & Oliver Fritz & Dieter Pennerstorfer, 2010. "Dritter Bericht zur internationalen Wettbewerbsfähigkeit Wiens," WIFO Studies, WIFO, number 42430, April.
    15. Marco R. Di Tommaso & Stuart O. Schweitzer, 2013. "Industrial Policy in America," Books, Edward Elgar Publishing, number 13749.
    16. Lars Calmfors & Giancarlo Corsetti & Michael P. Devereux & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Xavier Vives, 2008. "Chapter 4: Industrial policy," EEAG Report on the European Economy, CESifo, vol. 0, pages 105-124, February.

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