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Rethinking industrial policy. Bruegel Policy Brief 2011/04, June 2011

Aghion, Philippe and Boulanger, Julian and Cohen, Elie. (2011) Rethinking industrial policy. Bruegel Policy Brief 2011/04, June 2011. [Policy Paper]

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    Abstract

    Industrial policy has a bad name: ‘picking winners’ and thus distorting competition, while exposing government to capture by vested interests. But there are reasons for a rethink. First, climate change: without government intervention to jump-start massive private investment in clean technologies, governments, by default, encourage investment in dirtier technologies. Second, a new post-crisis realism: laissez-faire complacency by many governments has led to mis-investment in the non-tradable sector at the expense of growth-rich tradables. Third, China – and some other emerging economies – are big deployers of growth-enhancing sectoral policies. The challenge for Europe is how it can design and govern sectoral policies that are competition-friendly and thus growth-enhancing.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > environmental policy (including international arena)
    EU policies and themes > Policies & related activities > industrial policy
    Countries > China
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Policy Briefs
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 16 Jun 2011 15:17
    Number of Pages: 8
    Last Modified: 16 Jun 2011 15:17
    URI: http://aei.pitt.edu/id/eprint/32066

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