Industrial Policy after the Crisis

Industrial Policy after the Crisis

Seizing the Future

Patrizio Bianchi and Sandrine Labory

Industrial Policy after the Crisis provides a fresh and insightful study on the lessons that can be drawn from the global financial crisis for the analysis, definition and implementation of industrial policy. The authors utilize a political economy framework for the analysis of industrial development post-crisis, centred on the organisation of production and stressing its importance for the wealth of nations, meaning not only rising income but also ‘justice and happiness’.

Chapter 5: Industrial Policies as Long-term Strategies: Some Examples

Patrizio Bianchi and Sandrine Labory

Subjects: economics and finance, industrial economics


INTRODUCTION In this chapter, we wish to illustrate our industrial policy framework using a few examples. These examples show the necessary coherence between the main pillars of the sundial we drew in the last chapter, but are not used to identify a single optimal path. In fact, it is important to stress that there is no single path to long-term, sustainable industrial development but a number of different possible routes from which a preferred one can be chosen. We suggest that this choice can be helped by the sundial which shows the requirement for coherence if development is to be sustainable and contribute to civil as well as economic development. The sundial has four axes – entitlements, provisions, innovation and territory – that are not substitutes but complementary in contributing to industrial development. Authorities at all levels can choose to favour one or more axes, but sustainability in the competitive context of the twenty-first century requires that all axes be considered in one way or the other. The vertical fifth axis represents the coherence of industrial development policy. This is twofold: first, coherence between the different actions in the different fields, namely macro and micro, and social and economic, must be ensured; second, coherence between the levels of implementation, namely regional, national and supra-national must also be ensured. This is a holistic approach to industrial policy, whereby the policymaker takes a broad view, trying to represent the whole system in which the particular policy issue is part, in order to identify and...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information