Rethinking industrial policy
AbstractIndustrial policy has a bad name: â??picking winnersâ?? and thus distorting competition, while exposing government to capture by vested interests. But there are reasons for a rethink. First, climate change: without government intervention to jump-start massive private investment in clean technologies, governments, by default, encourage investment in dirtier technologies. Second, a new post-crisis realism: laissez-faire complacency by many governments has led to mis-investment in the non-tradable sector at the expense of growth-rich tradables. Third, China â?? and some other emerging economies â?? are big deployers of growth-enhancing sectoral policies. The challenge for Europe is how it can design and govern sectoral policies that are competition-friendly and thus growth-enhancing.
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Bibliographic InfoPaper provided by Bruegel in its series Policy Briefs with number 566.
Date of creation: Jun 2011
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-06-25 (All new papers)
- NEP-ENE-2011-06-25 (Energy Economics)
- NEP-IND-2011-06-25 (Industrial Organization)
- NEP-PKE-2011-06-25 (Post Keynesian Economics)
- NEP-REG-2011-06-25 (Regulation)
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:CitEc Project, subscribe to its RSS feed for this item.
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WIFO Working Papers
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- Heinz Hollenstein, 2013. "Wirtschaftliche Rahmenbedingungen als Element der Innovationspolitik," KOF Analysen, KOF Swiss Economic Institute, ETH Zurich, vol. 7(2), pages 47-55, June.
- Petraglia C. & Scalera D., 2012. "Le politiche per il Mezzogiorno negli anni della crisi (2007-2012)," Rivista economica del Mezzogiorno, Società editrice il Mulino, issue 4, pages 1023-1048.
- Sarah Guillou & Lionel Nesta, 2011. "Quelle politique industrielle dans la mondialisation ?," Sciences Po publications info:hdl:2441/eu4vqp9ompq, Sciences Po.
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