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Southern Europe in crisis: industrial policy lessons from Italy and Portugal

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  • Manuel Mira Godinho

    (Universidade de Lisboa
    UECE (Research Unit on Complexity and Economics))

  • Ricardo Paes Mamede

    (Instituto Universitário de Lisboa (ISCTE-IUL) and DINÂMIA-CET-IUL)

Abstract

Italy and Portugal have characteristics in common and some relevant differences, both of which provide useful inputs for a comparative analysis. Lucchese et al. (Industrial policy and technology in Italy, 2016) argue that deindustrialization in Italy stems partially from the shortcomings of industrial policy, which has been unable to promote the development of more knowledge-intensive activities. In contrast, our assessment of industrial policy in Portugal indicates that the absence of structural change towards more knowledge-intensive activities does not seem to result from the absence of adequate industrial policy measures. Even though most of the policy instruments that have been put in place in Portugal being of a ‘horizontal’ nature, support has been unevenly distributed across industries, often being concentrated in more technology-intensive industries. We conclude that despite existing room for improvements in the industrial policies, overcoming the current crisis in the Southern belt of the euro zone will require decisive changes in macroeconomic policies.

Suggested Citation

  • Manuel Mira Godinho & Ricardo Paes Mamede, 2016. "Southern Europe in crisis: industrial policy lessons from Italy and Portugal," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 43(3), pages 331-336, September.
    • Handle: RePEc:spr:epolin:v:43:y:2016:i:3:d:10.1007_s40812-016-0037-6
    DOI: 10.1007/s40812-016-0037-6
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    References listed on IDEAS

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    1. Ricardo Paes Mamede & Sérgio Lagoa & Emanuel Leão & Ricardo Barradas, 2016. "The long boom and the early bust: the Portuguese economy in the era of financialisation," Chapters, in: Eckhard Hein & Daniel Detzer & Nina Dodig (ed.), Financialisation and the Financial and Economic Crises, chapter 11, pages 255-274, Edward Elgar Publishing.
    2. Matteo Lucchese & Leopoldo Nascia & Mario Pianta, 2016. "Industrial policy and technology in Italy," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 43(3), pages 233-260, September.
    3. Sergio Lagoa & Emanuel Leao & Ricardo Paes Mamede & Ricardo Barradas, 2014. "Financialisation and the Financial and Economic Crises: The Case of Portugal," FESSUD studies fstudy24, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
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    Cited by:

    1. Bonnín Roca, Jaime & Vaishnav, Parth & Morgan, Granger M. & Fuchs, Erica & Mendonça, Joana, 2021. "Technology Forgiveness: Why emerging technologies differ in their resilience to institutional instability," Technological Forecasting and Social Change, Elsevier, vol. 166(C).

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    More about this item

    Keywords

    Industrial policy; Economic crisis; Deindustrialization; Competitiveness; Innovation; Knowledge-intensive industries;
    All these keywords.

    JEL classification:

    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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