Table of Contents

International Handbook on Industrial Policy

International Handbook on Industrial Policy

Elgar original reference

Edited by Patrizio Bianchi and Sandrine Labory

This timely and much-needed Handbook reconsiders an old topic from a fresh perspective, raising a number of new, interesting and worthwhile issues in the wake of ten years of globalization. This comprehensive analysis illustrates that old-style industrial policies whereby the government directly intervened in markets, and was often the producer itself, are no longer relevant. Structural changes occurring in economies – summarized in the term ‘globalization’ – are triggering the definition and implementation of new industrial policies. The contributors, leading experts in their field, unite to evaluate this shift of over a decade ago.

Chapter 17: The Local Dimensions of Industrial Policy

Marco Bellandi and Marco Di Tommaso

Subjects: economics and finance, industrial economics

Extract

Marco Bellandi and Marco Di Tommaso1 1 Introduction This chapter is about the local dimension of industrial policy. The first question is: has industrial policy a local dimension and what does it exactly mean? We will see that a positive answer may be inferred from some theoretical debates (on market and government failures, their remedies and possible policy answers), and from what we may learn from the history of industrial development with reference to a variety of experiences around the world. Industrial policy with a local dimension does not reduce to intervention promoted by local government. If local governments have a central role in defining and implementing local industrial policy, other institutions can also offer an important contribution in this field, for example the national government policies or the international institutions’ interventions. A clearer identification of the local dimension of industrial policy should be related to its focus on local actors and relations: ‘local’ because rooted in localities identified by sets of relations within specific communities of people, firms and institutions. The point is discussed directly in section 5. A second question concerns the domain of Local Industrial Policy (LIP), here defined as the application of general principles of industrial policy to the organization of industry at the just mentioned level of localities. Looking at the wide and complex literature on industrial policy, we consider, in sections 2 and 3, the possible role of LIP in correcting market failures, and in promoting strategic and...

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