Industrial Policy

Steve Coulter

Description

Well-designed industrial policies can improve a nation’s economic performance. Using a range of tools, such as subsidies, tax incentives, infrastructure development, protective regulations, and R&D support, governments are able to support specific industries or economic activities.

Steve Coulter examines the patterns of industrial policymaking across late capitalist societies. Drawing on case studies from a range of countries, each with different growth models, national capabilities, policy traditions, and political/welfare state regimes, he is able to offer a nuanced comparative assessment of states’ responses to specific economic challenges. The book draws broad conclusions about the trajectories of industrial policy and highlights key technical and political drivers that policymakers consider when addressing whether best practice should centre on general or nationally-specific approaches. The book also focuses on fresh challenges and opportunities for industrial policy and questions the sustainability of current policy practice.

1. Introduction: industry, economy and industrial policy

2. States, markets and growth: the economics of industrial policy

3. Implementing industrial policy: the experiences of five countries

4. New horizons for industrial policy

5. Conclusion

Sujets

• R&D
• Economic Policy
• Public Policy
• Political Economy
• Political Science
• Industries
• Research and development
• General officer
• General
• Recherche et développement
• Industrie

Informations

• Publié par: Agenda Publishing
• Date de parution: 06 juillet 2023
• Nombre de lectures: 0
• EAN13: 9781788211116
• Langue: English
• Poids de l'ouvrage: 3 Mo

Extrait

The Economy | Key Ideas

hese sor prîmers înroduce sudens o e core conceps, eorîes and modes, bo new and esabîsed, eerodox and maînsream, conesed and acceped, used by economîss and poîîca economîss o undersand and expaîn e workîngs o e economy.

Auserîy Jon Fender

Beavîoural Economîcs Graam Maard

Bounded Raîonalîy Graam Maard

Culural Economîcs Crîsîane Hemanzîk

Degrow Gîorgos Kaîs

Economîc Anropology James G. Carrîer

Fînancîal Inclusîon Samue Kîrwan

he Gîg Economy Aex De Ruyer and Maryn Brown

Indusrîal Polîcy Seve Couer

he Informal Economy Coîn C. Wîîams

he Lîvîng Wage Donad Hîrsc and aura Vaadez-Marînez

Margînalîsm Ber Mossemans

Producîvîy Mîcae Haynes

he Resource Curse S. Mansoob Mursed

Industrîal Polîcy

Steve Coulter

© Seve Couer 2023

hîs book îs copyrîg under e Berne Convenîon. No reproducîon wîou permîssîon. A rîgs reserved.

Fîrs pubîsed în 2023 by Agenda Pubîsîng

Agenda Pubîsîng îmîed PO Box 185 Newcase upon Tyne NE20 2DH www.agendapub.com

ïSBN 978-1-78821-110-9 (ardcover) ïSBN 978-1-78821-338-7 (paperback)

British Library CataloguinginPublication Data A caaogue record or îs book îs avaîabe rom e Brîîs îbrary

Typese by JS Typeseîng d, Porcaw, Mîd Gamorgan Prîned and bound în e UK by 4edge

Contents

1 2 3 4 5

Preace and acknowedgemens

ïnroducîon: îndusry, economy and îndusrîa poîcy

Saes, markes and grow: e economîcs o îndusrîa poîcy

ïmpemenîng îndusrîa poîcy: e experîences o Ive counrîes New orîzons or îndusrîa poîcy Concusîon

Furer readîng Reerences ïndex

vîî

1 15

45 93 131

135 137 143

V

Preface and acknowledgements

hîs book îs înended as a brîe, bu opeuy îneresîng and înormaîve, guîde o îndusrîa poîcy or sudens, academîcs and poîcymakers. As suc, î covers e maîn economîc eorîes reevan o e opîc, bu aso sows ow poîcîes ave been, and can be, appîed în concree seîngs o acke a os o amîîar economîc caenges as we as emergîng ones îke decarbonîzaîon. Aoug a îmes conroversîa, amos every economîcay successu counry became so roug depoyîng îndusrîa poîcîes a some poîn or oer, weer eîr governmens admî o doîng so or no. Examînîng ow suc înervenîons are done, în parîcuar poîcy domaîns, and by dîferen counrîes a dîferen îmes, îs ereore an împoran and useu exercîse. Beîng a sor book a rîes o cover a o, ere are necessarîy some gaps în coverage. ï ave maîny ocused on e poîcîes and sraegîes o reaîvey advanced counrîes în Europe, Nor Amerîca and Eas Asîa, as ese ave mosy gone roug e eary sages o îndusrîaîzaîon and now ace common probems o adjusîng o an încreasîngy ecnoogîcay sopîsîcaed uure. hîs unorunaey means gossîng over e caenges o ow ow-încome counrîes can acîeve înîîa îndusrîa ake-of. ï woud îke o ank my pubîser a Agenda, Aîson Howson, and sev- era revîewers, especîay Bob Hancké, wo provîded vauabe eedback a varîous sages, aoug any errors are mîne aone. Davîd Brîo provîded vauabe ep wî some o e daa and cars. he book îse îs ondy dedîcaed o Sunîa and ucas.

VII

1

Introductîon: îndustry, economy and îndustrîal polîcy

he quesîon o e governmen’s roe în marke socîeîes as oomed arge sînce a eas Adam Smî’s day. here îs a wîde poîîca and academîc con- sensus oday a we-desîgned economîc poîcîes deîvered by e sae or îs agens can încrease e we-beîng o socîeîes roug îger grow raes and greaer eicîency. However, î îs no aways cear wa ese poî- cîes are, or soud be, and ow ey can be pu îno efec. hîs book expores some o ese economîc and poîcy quesîons roug an examînaîon o one parîcuar srand o economîc poîcymakîng known as “îndusrîa poîcy”. ïndusrîa poîcy îs a dîsînc poîcy domaîn wîc încudes a wîde range o measures aîmed a deveopîng producîve and ec- noogîca capabîîîes în îndusry and reaed secors, buîdîng and suppor- îng new îndusrîes, and încreasîng e producîvîy and compeîîveness o e economy generay. ïndusrîa poîcîes are separae rom macroeconomîc poîcy, wîc îs concerned wî e broad baance and dîrecîon o woe economîes roug oos îke îneres raes. Bu ey are no necessarîy synonymous wî mîcroeconomîc poîcîes eîer, as ey can be dîreced a aerîng e srucure o e producîve secor o e economy by nudgîng domesîc îndusrîes owards ceraîn acîvîîes and deveopîng broad arîbues, suc as îger producîvîy or greaer R&D înensîy. Dependîng on cîrcumsances, e objecîves o îndusrîa poîcy can încude expor promoîon, deveopmen o înkages beween Irms în an îndusry and suppor or upsream ecnoogy deveopmen. Poîcy oos or acîevîng ese objecîves can încude înrasrucure spendîng, ax încenîves or R&D, creaîon o înermedîary însîuîons suc as însî- ues or appîed ecnoogy, vocaîona raînîng programmes ocused on îg-ecnoogy, and dîrec înervenîon o proec or promoe specîIc îndusrîes and even îndîvîdua Irms.

1

INDUSTRIAL POLICY

Done successuy, îndusrîa poîcy can ave a sîgnîIcan efec on economîc we-beîng. Brîaîn, e îndusrîa pîoneer, used îndusrîa po- îcîes o nurure and guîde îs nascen manuacurîng îndusrîes rom e mîd-eîgeen cenury (conrary o persîsen mys a îs îndusrîa ake-of was an enîrey ree-marke afaîr; see Fîgure 1.1). Sou Korea wen rom beîng one o e word’s poores counrîes în e 1950s o an advanced îndusrîa naîon în îe more an 30 years roug judîcîous use o îndus- rîa poîcy o deveop îs economy roug panned, expor-ed grow. France used îndusrîa poîcîes o rebuîd ater e Second Word War by deveopîng goba eadersîp în îndusrîa secors îke îg-speed raî and nucear power. And e osensîby ree-marke USA as ong used îndusrîa poîcy o ranser and dîfuse ecnoogîes rom îs enormous deence secor o îs prîvae secor. ïn ac, mos, î no a, rîc counrîes ave successuy empoyed îndus- rîa poîcy a varîous sages în eîr economîc deveopmen – weer ey admî o doîng î or no. Bu e resus overa ave been mîxed. Numerous îsorîca and empîrîca sudîes sow a governmens can înLuence e

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140104216451247185014531055165812601863146610681671127318761479108116841286188914921094169712998 Fîgure 1.1GDP per capita (US dollars) in Britain, 1400 to present Source:Our World in Data.

2