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Industrial policy for growth

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  • Farla, Kristine

    ()
    (UNU-MERIT / MGSOG, Maastricht University)

Abstract

This study distinguishes between industrial policy that stimulates incumbent industry development, `pro-business policy', and industrial policy that promotes the development of free markets, `pro-market policy'. We find that there is a positive relation between the level of countries' implementation of these policies. However, we find opposite effects of pro-business and pro-market policies when estimating the policy effect on growth and income level. Pro-business policy has a positive effect on economic development, and pro-market policy has a negative effect on economic development.

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File URL: http://www.merit.unu.edu/publications/wppdf/2012/wp2012-039.pdf
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Bibliographic Info

Paper provided by United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT) in its series MERIT Working Papers with number 039.

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Date of creation: 2012
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Handle: RePEc:unm:unumer:2012039

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Related research

Keywords: Industrial Policy; Industrial Development; Economic Development; Economic Growth;

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References

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  13. Valila, Timo, 2009. "No policy is an island - on the interaction between industrial and other policies," EIB Papers, European Investment Bank, Economics Department 7/2006, European Investment Bank, Economics Department.
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  17. de la Torre, Augusto & Gozzi, Juan Carlos & Schmukler, Sergio L., 2007. "Innovative experiences in access to finance : market friendly roles for the visible hand ?," Policy Research Working Paper Series 4326, The World Bank.
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  21. Michael Peneder, 2012. "Competition and Innovation: Revisiting the Inverted-U Relationship," Journal of Industry, Competition and Trade, Springer, Springer, vol. 12(1), pages 1-5, March.
  22. Stefano Breschi & Lucia Cusmano, 2002. "Unveiling the Texture of a European Research Area: Emergence of Oligarchic Networks under EU Framework Programmes," KITeS Working Papers, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy 130, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy, revised Jul 2002.
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  25. Caroline Buts & Marc Jegers, 2013. "The Effect of ‘State Aid’ on Market Shares: An Empirical Investigation in an EU Member State," Journal of Industry, Competition and Trade, Springer, Springer, vol. 13(1), pages 89-100, March.
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