Elgar original reference
Edited by Patrizio Bianchi and Sandrine Labory
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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