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Industrial Policy in Austria: From Selective Intervention to a More Systematic Approach

Author

Listed:
  • Karl Aiginger

    (WIFO)

  • Susanne Sieber

    (WIFO)

Abstract

Industrial policy is a controversial but necessary part of economic policy. In its early stages, it consisted mainly of sectoral interventions. It then evolved into a broader competitiveness policy driven by horizontal policies. Nowadays it is a mixture of mainly horizontal and of complementary sectoral measures (the so-called matrix approach of the European Union). In general, industrial policy has changed from an isolated policy to a systemic concept which combines innovation, training and other areas of economic policy ("New Systemic Industrial Policy"). As a result of the crisis, but also as part of a national extension to the globalisation of the economy, industrial policy is becoming more important.

Suggested Citation

  • Karl Aiginger & Susanne Sieber, 2009. "Industrial Policy in Austria: From Selective Intervention to a More Systematic Approach," WIFO Working Papers 337, WIFO.
  • Handle: RePEc:wfo:wpaper:y:2009:i:337
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    File URL: http://www.wifo.ac.at/wwa/pubid/35801
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    References listed on IDEAS

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    Keywords

    Industriepolitik Wettbewerbsfähigkeit Innovationsstrategie Marktversagen dynamic market failures;

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