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Crisis, what crisis? Industrial strategies and path dependencies in four European countries after the crash

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  • Garcia Calvo, Angela
  • Coulter, Steve

Abstract

This paper examines industrial policy responses to the 2008 crisis in four European countries and gauges their long-term significance by asking: to what extent were these politicised, short term remedies; or enduring policy changes? We find that policy responses varied significantly in their coherence and long-term impact and argue that the key influential factors were: the presence of large, globally competitive manufacturing bases spanning several adjacent sectors; and the existence of strong public-private elite networks, rather than pre-existing institutional structures–which proved surprisingly malleable. The paper contributes to the understanding of the determinants of policy-making in times of crisis.

Suggested Citation

  • Garcia Calvo, Angela & Coulter, Steve, 2022. "Crisis, what crisis? Industrial strategies and path dependencies in four European countries after the crash," LSE Research Online Documents on Economics 106497, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:106497
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    File URL: http://eprints.lse.ac.uk/106497/
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    References listed on IDEAS

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    4. Elie Cohen, 2007. "Industrial Policies in France: The Old and the New," Journal of Industry, Competition and Trade, Springer, vol. 7(3), pages 213-227, December.
    5. Chang, Ha-Joon & Park, Hong-Jae & Yoo, Chul Gyue, 1998. "Interpreting the Korean Crisis: Financial Liberalisation, Industrial Policy and Corporate Governance," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 22(6), pages 735-746, November.
    6. Ken Warwick, 2013. "Beyond Industrial Policy: Emerging Issues and New Trends," OECD Science, Technology and Industry Policy Papers 2, OECD Publishing.
    7. Christel Lane & Jocelyn Probert, 2006. "Globalization and Labour Market Segmentation: The Impact of Global Production Networks on Employment Patterns of German and UK Clothing Firms," Palgrave Macmillan Books, in: Anthony Ferner & Javier Quintanilla & Carlos Sánchez-Runde (ed.), Multinationals, Institutions and the Construction of Transnational Practices, chapter 8, pages 184-212, Palgrave Macmillan.
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    Cited by:

    1. Jun-Yi Zheng & Wan-Gang Lv & Jie Shen & Mei Sun, 2022. "Study on the Impact of the Healthy Cities Pilot Policy on Industrial Structure Upgrading: Quasi-Experimental Evidence from China," Sustainability, MDPI, vol. 14(20), pages 1-18, October.
    2. Shengli Dai & Weimin Zhang & Yingying Wang & Ge Wang, 2022. "Examining the Impact of Regional Development Policy on Industrial Structure Upgrading: Quasi-Experimental Evidence from China," IJERPH, MDPI, vol. 19(9), pages 1-18, April.

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    More about this item

    Keywords

    capitalist systems; Europe; industrial policy; institutions and growth; policy; political economy;
    All these keywords.

    JEL classification:

    • N0 - Economic History - - General
    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General

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