Abstract
The central purpose of this chapter is to explore some of the theoretical issues involved in the analysis of industrial policy. In doing so, we start from the proposition that there is not (and probably never can be) a single coherent theory of industrial policy, but rather different theoretical perspectives on and aspects of industrial policy. It is a rather obvious (if not always acknowledged) point to say that the analysis of industrial policy and strategy has to deal with three interrelated elements, namely the analysis of the operation of a market economy which includes the nature of markets and of competition as well as of networks and industrial and spatial clusters, the nature of the State activity, and the role of specific policy instruments. The focus of this chapter is on the first two of those, and limitations of space preclude discussion of specific industrial policies. We also offer some remarks on the constraints imposed by globalization on the pursuit of industrial policy.
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Sawyer, M. (2000). The Theoretical Analysis of Industrial Policy. In: Elsner, W., Groenewegen, J. (eds) Industrial Policies After 2000. Recent Economic Thought, vol 72. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-3996-0_2
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DOI: https://doi.org/10.1007/978-94-011-3996-0_2
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