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Industrial policy for growth

  • Farla, Kristine

    ()

    (UNU-MERIT / MGSOG, Maastricht University)

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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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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