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Industrial Policy on the Rise

Industrial Policy on the Rise. Comments by Laurids S. Lauridsen Roskilde University. Normalizing industrial policy? (1).

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Industrial Policy on the Rise

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  1. Industrial Policy on the Rise Comments by Laurids S. Lauridsen Roskilde University

  2. Normalizing industrial policy? (1) • “The necessary transition to a more sustainable, inclusive and resource-efficient economy will have to be supported by both horizontal and sectoral policies at all levels and will require strengthened European governance and social dialogue” [EC COM(2010)614, 4] • ”The present round of industrial policy will no doubt produce some modest successes – and a crop of whopping failures” (The Economist August 7th 2010, 56)

  3. Normalizing industrial policy? (2) • “Encouraging broad-based and inclusive growth does not imply a return to government-sponsored industrial policies, but instead puts the emphasis on policies that remove constraints to growth and create a level playing field for investment” (The World Bank, “What is Inclusive Growth, 2009, 1)

  4. The core argument • The mainstream developmentdiscourse • Trade liberalisation (DDA) and FDI • Comparative advantage following approach • Good Governance • Soft individualised issues - • Property rights (de Soto) • MDG • Micro-credit (Yunus) • A new (old) development discourse • Bring production back in • PONEs, domestic savings and collective efforts • Strategic industrial policy – market-defying interventions • Developmental state (balanced SBRs) • Add-on issues: • Inclusionary growth • human dev., low-carbon and technological capabilities • ideas, politics

  5. Issues for discussion • A difference?: Wade on ”self-discovery” and ”followership” versus Chang on market-defying interventions • SBRs – any room for integrating “a labour point of view”? • Feasibility? • What are the lessons for countries with low state capacity? • What the role of “the politics” of industrial policy making? • Changing global conditions • Global production networks/global value chains • The organisational decomposition of the innovation process • The shrinking policy space (WTO and bilateral trade/investment agreements) • Does China make a difference – Africa? The post-2000 experience?

  6. SBR relations – centralised versus decentralised • Start-up versus Catch-up industrialisation • Diversification, Deepening and Upgrading • Market failure, state failure and network failure

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