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Evaluation of Industrial Policy: Methodological Issues and Policy Lessons

Author

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  • Ken Warwick

    (Warwick Economics)

  • Alistair Nolan

    (OECD)

Abstract

Industrial policy, broadly defined, covers a multitude of policy instruments and approaches. While there has been a recent revival of interest in industrial policy around the world, systematic evidence of efficacy is relatively scarce. This report brings together the work of an OECD expert group that has considered recent evidence from the evaluation of industrial policy. The report focuses on three specific policy areas, namely: support for R&D; capital market interventions (with a focus on risk capital); and public procurement for innovation. The report also examines three areas where packages of industrial policy measures are generally applied: sector approaches including public-private partnerships; policies towards clusters and business networks; and national industrial strategies. In many areas of industrial policy, evaluation faces particular methodological challenges. These challenges are outlined in the report, which concludes by drawing together the main policy lessons from the available evaluation evidence.

Suggested Citation

  • Ken Warwick & Alistair Nolan, 2014. "Evaluation of Industrial Policy: Methodological Issues and Policy Lessons," OECD Science, Technology and Industry Policy Papers 16, OECD Publishing.
    • Handle: RePEc:oec:stiaac:16-en
    DOI: 10.1787/5jz181jh0j5k-en
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    Cited by:

    1. Constantino Hevia & Norman V. Loayza & Claudia Meza-Cuadra, 2023. "Industrial Policies vs Public Goods under Asymmetric Information," Revista Economía, Fondo Editorial - Pontificia Universidad Católica del Perú, vol. 46(91), pages 39-52.
    2. Jan Fagerberg & Gernot Hutschenreiter, 2020. "Coping with Societal Challenges: Lessons for Innovation Policy Governance," Journal of Industry, Competition and Trade, Springer, vol. 20(2), pages 279-305, June.
    3. Matthijs Janssen, 2016. "What bangs for your bucks? Assessing the design and impact of transformative policy," Innovation Studies Utrecht (ISU) working paper series 16-05, Utrecht University, Department of Innovation Studies, revised Dec 2016.
    4. Ron Crawford, 2021. "Focused innovation policy: Lessons from international experience," Working Papers 2021/03, New Zealand Productivity Commission.
    5. Silva Filipe & Carreira Carlos, 2017. "Financial Constraints: Do They Matter to Allocate R&D Subsidies?," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 17(4), pages 1-26, October.
    6. Laatsit, Mart & Lindholm-Dahlstrand, Åsa & Nilsson, Magnus, 2023. "Capturing the system-level effects of innovation policy: an assessment of publicly funded innovative entrepreneurship in Sweden," Papers in Innovation Studies 2023/12, Lund University, CIRCLE - Centre for Innovation Research.
    7. Janssen, Matthijs J., 2019. "What bangs for your buck? Assessing the design and impact of Dutch transformative policy," Technological Forecasting and Social Change, Elsevier, vol. 138(C), pages 78-94.
    8. Bofinger, Peter & Geißendörfer, Lisa & Haas, Thomas & Mayer, Fabian, 2023. "Credit as an instrument for growth: A monetary explanation of the Chinese growth story," W.E.P. - Würzburg Economic Papers 107, University of Würzburg, Department of Economics.
    9. Zhu, Zhaohui & Tan, Yafei, 2022. "Can green industrial policy promote green innovation in heavily polluting enterprises? Evidence from China," Economic Analysis and Policy, Elsevier, vol. 74(C), pages 59-75.
    10. Claire Dujardin & Virginie Louis & Florian Mayneris, 2015. "Les pôles de compétitivité wallons Quel impact sur les performances économiques des entreprises ? The Walloon competitiveness clusters and their impact on firms’ economic performances?," LIDAM Discussion Papers IRES 2015017, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    11. Lucchese, Matteo & Nascia, Leopoldo & Pianta, Mario, 2017. "Politica industriale e tecnologia in Italia [Industrial policy and technology in Italy]," MPRA Paper 77182, University Library of Munich, Germany.
    12. Michael Böheim, 2016. "Umweltpolitik als Kernelement einer systemischen Industriepolitik zur Förderung eines nachhaltigen Wirtschaftswachstums," WIFO Monatsberichte (monthly reports), WIFO, vol. 89(1), pages 39-46, January.
    13. Jingxiao Zhang & Haiyan Xie & Hui Li, 2017. "Positioning and Priorities of Growth Management in Construction Industrialization: Chinese Firm-Level Empirical Research," Sustainability, MDPI, vol. 9(7), pages 1-23, June.
    14. Karl Aiginger, 2014. "Industrial Policy for a Sustainable Growth Path," WIFO Working Papers 469, WIFO.
    15. Jacek Lewkowicz & Anna Lewczuk, 2022. "Innovation through Collaboration," Journal of Economics / Ekonomicky casopis, Institute of Economic Research, Slovak Academy of Sciences, vol. 70(1), pages 36-56, January.
    16. Bessonova, Evguenia, 2023. "Firms’ efficiency, exits and government procurement contracts," European Journal of Political Economy, Elsevier, vol. 76(C).
    17. Klingler-Vidra, Robyn & Wade, Robert, 2020. "Science and technology policies and the middle-income trap: lessons from Vietnam," LSE Research Online Documents on Economics 100712, London School of Economics and Political Science, LSE Library.
    18. Cameli, Simone Amato, 2023. "A complexity economics framework for 21st-century industrial policy," Structural Change and Economic Dynamics, Elsevier, vol. 64(C), pages 168-178.
    19. Wang, Yufei & Liao, Zhongju, 2023. "Functional industrial policy mechanism under natural resource conflict: A case study on the Chinese new energy vehicle industry," Resources Policy, Elsevier, vol. 81(C).
    20. Michael Peneder, 2014. "Warum die Neue Industriepolitik die Deindustrialisierung beschleunigen wird," FIW Policy Brief series 023, FIW.
    21. Inga Ivanova & Nataliya Smorodinskaya & Loet Leydesdorff, 2020. "On measuring complexity in a post-industrial economy: the ecosystem’s approach," Quality & Quantity: International Journal of Methodology, Springer, vol. 54(1), pages 197-212, February.
    22. Andrey Georgievich Fonotov & Olga Efimovna Bergal’, 2020. "Territorial Clusters in the System of Spacial Development: Foreign Experience," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 4, pages 113-135.
    23. Natalia Evgenyevna Antonova, 2018. "Evaluation of Economic Agents Responses of on Institutional Changes in the Region Forest Complex," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 4, pages 115-138.
    24. Russell, Martha G. & Smorodinskaya, Nataliya V., 2018. "Leveraging complexity for ecosystemic innovation," Technological Forecasting and Social Change, Elsevier, vol. 136(C), pages 114-131.

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