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Edited by Patrizio Bianchi and Sandrine Labory
Chapter 22: Industrial Policy: Perspectives, Experience, Issues
Christos N. Pitelis 1 Introduction The objective of this chapter is to provide a bird’s eye view of extant alternative perspectives on industrial (and competition) policies, paying particular attention to the case of the European Union (EU). We also brieﬂy explore the idea that non-classical ideas have currently achieved an almost mainstream status within EU policy circles. We claim this to be good news and (up to a point) a vindication of eﬀorts by contributors to this volume (and to many others) over many years. Section 2 of the chapter deals with deﬁnitional issues and extant perspectives. Section 3 discusses practice, sketches an integrative framework, assesses recent EU policies that seem to draw on evolutionary/resource-based ideas, and discusses implications for transition and developing countries, and issues of implementation. Section 4 oﬀers a summary and conclusions. 2 Industrial and competition policies: theories and international experience Deﬁnitional issues The term ‘industrial policy’ (IP hereafter) refers to a set of measures taken by a government and aiming at inﬂuencing a country’s industrial performance towards a desired objective.1 Competition policies refer to the stance governments adopt towards the role of competition between ﬁrms and (in) industries’ economic development, and the measures they take to implement their objectives. Competition policies (CPs hereafter) usually attempt to inﬂuence the degree of competition in industries, for example, the food or textile industry. In this context they are part and parcel of a more general category, that of supply-side industrial policies. As...
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