"The government takes measures 'aimed at improving the competitiveness and capabilities of domestic firms and promoting structural transformation'."
An overview of industrial policy, its objectives, instruments, and the role of the government in promoting industrial development.
Definition of Industrial Policy: This involves understanding what industrial policy is, its objectives, and how it is implemented.
Historical Perspectives: A deep dive into how industrial policy has been developed over time in different countries.
Types of Industrial Policies: The various types of industrial policies, including protectionist and interventionist, and the advantages and disadvantages of each.
Theories of Industrial Policy: This includes the various economic theories underpinning industrial policy, such as the infant industry argument, strategic trade policy, and the neo-classical view.
Industrial Competitiveness: Understanding how industrial policy can impact the competitiveness of industries and how countries can increase their competitiveness on the global stage.
Innovation and Technology: How industrial policy can promote technological innovation and how technology can help foster industrial growth.
Role of Government and Private Sector: Analyzing the role of government and private sector in industrial policy design and implementation, and identifying the benefits and risks of each.
Regional and Global Industrial Policies: Understanding how industrial policies can be designed for regional and global contexts, and how global trade agreements can influence industrial policy.
Evaluation of Industrial Policies: Analyzing the effectiveness of industrial policies, various measures and metrics to evaluate success or failure.
Case Studies: Examining various case studies of successful and unsuccessful industrial policies from different countries and sectors.
Interventionist Industrial Policy: This type of industrial policy involves government agencies intervening in the operation of the market to influence industrial development. This policy aims to protect and promote national industries.
Market-Based Industrial Policy: In this type of industrial policy, the government steps back and allows the market to determine industrial development. The government establishes a framework within which firms can compete.
Strategic Industrial Policy: This type of industrial policy aims to promote specific industries or sectors with high growth potential. The idea is to create a competitive advantage for domestic firms involved in those industries.
Innovation-Based Industrial Policy: This industrial policy aims to encourage innovation and R&D to help domestic firms develop cutting-edge technology and gain a competitive advantage.
Environmental Industrial Policy: This type of industrial policy is focused on promoting sustainability and green technology. The government creates incentives for firms to reduce their carbon footprint and develop eco-friendly technologies.
Global Industrial Policy: This type of industrial policy takes an international perspective, aiming to promote the competitiveness of national industries in global markets. The government sets policies that align with international trade agreements and promotes export-oriented growth.
Inclusive Industrial Policy: This type of industrial policy is focused on promoting economic growth that is inclusive of marginalized or underrepresented groups. The government creates policies that foster equal opportunity and reduce inequality.
"...often focused on all or part of the manufacturing sector."
"A country's infrastructure (including transportation, telecommunications and energy industry) is a major enabler of the wider economy and so often has a key role in IP."
"Industrial policies are interventionist measures typical of mixed economy countries."
"Many types of industrial policies contain common elements with other types of interventionist practices such as trade policy."
"Industrial policy is usually seen as separate from broader macroeconomic policies, such as tightening credit and taxing capital gains."
"Traditional examples of industrial policy include subsidizing export industries and import-substitution-industrialization (ISI), where trade barriers are temporarily imposed on some key sectors, such as manufacturing."
"By selectively protecting certain industries, these industries are given time to learn (learning by doing) and upgrade."
"Once competitive enough, these restrictions are lifted to expose the selected industries to the international market."
"More contemporary industrial policies include measures such as support for linkages between firms and support for upstream technologies."
"Industrial policy takes measures aimed at improving the competitiveness and capabilities of domestic firms..."
"The government takes measures aimed at... promoting structural transformation."
"...including transportation, telecommunications and energy industry..."
"Industrial policies are interventionist measures typical of mixed economy countries."
"...subsidizing export industries and import-substitution-industrialization (ISI), where trade barriers are temporarily imposed on some key sectors..."
"...these industries are given time to learn (learning by doing) and upgrade."
"Once competitive enough, these restrictions are lifted to expose the selected industries to the international market."
"...support for linkages between firms and support for upstream technologies."
"A country's infrastructure is a major enabler of the wider economy and so often has a key role in IP."
"Industrial policy is usually seen as separate from broader macroeconomic policies, such as tightening credit and taxing capital gains."