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Where Are We in the Economics of Industrial Policies?

Author

Listed:
  • Dani Rodrik

    (John F. Kennedy School of Government, Harvard University, Cambridge, MA 02138, USA; CEPR Research Fellow)

Abstract

Research on industrial policy has taken off, leading to a better understanding of when such policies effectively harness economic development. This article reviews the recent literature on the economics of industrial policies. Until recently, empirical studies on industrial policies came largely in one of two types: detailed country/region studies and cross-industry or cross-country econometric studies. I point out that the country/region studies had the usual problem that it was difficult to trace the effects of success to specific industrial policies, while the econometric studies suffered from the problem of misspecification. I show that a new generation of work has been moving us beyond the largely ideological debates of the past to a more contextual, pragmatic understanding.

Suggested Citation

  • Dani Rodrik, 2019. "Where Are We in the Economics of Industrial Policies?," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 14(3), pages 329-335, September.
    • Handle: RePEc:fec:journl:v:14:y:2019:i:3:p:329-335
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    File URL: http://journal.hep.com.cn/fec/EN/10.3868/s060-008-019-0015-2
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    Citations

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    Cited by:

    1. Diane Coyle & Adam Muhtar, 2021. "UK’s Industrial Policy: Learning from the past?," Insight Papers 002, The Productivity Institute.
    2. Signe Krogstrup & William Oman, 2019. "Macroeconomic and Financial Policies for Climate Change Mitigation: A Review of the Literature," IMF Working Papers 2019/185, International Monetary Fund.
    3. Houba, Harold & Li, Duozhe & Wen, Quan, 2022. "Bargaining with costly competition for the right to propose," Journal of Mathematical Economics, Elsevier, vol. 98(C).
    4. Jean-Luc Gaffard, 2021. "La transition écologique : incertitude, irréversibilité et modèle institutionnel," GREDEG Working Papers 2021-04, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France, revised Feb 2021.
    5. Peter Sunley & Jack L Harris & Andy Pike & Richard Harris & Ron Martin & Emil Evenhuis, 2022. "Industrial policies, strategy and the UK’s Levelling Up agenda," Local Economy, London South Bank University, vol. 37(5), pages 403-418, August.
    6. Mengna Zhang & Shanzhong Qi, 2023. "The Spatio-Temporal Evolution and Driving Factors of High-Quality Development in the Yellow River Basin during the Period of 2010–2022," Sustainability, MDPI, vol. 15(18), pages 1-26, September.
    7. Yiwen Liu & Jian Li & Yi Xu, 2022. "Quantitative Evaluation of High-Tech Industry Policies Based on the PMC-Index Model: A Case Study of China’s Beijing-Tianjin-Hebei Region," Sustainability, MDPI, vol. 14(15), pages 1-17, July.

    More about this item

    Keywords

    industrial policy; economic development; China; South Korea; Latin America;
    All these keywords.

    JEL classification:

    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy

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