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Nations have and will continue to shape their economies through industrial policy. Nevertheless, the empirical literature on these interventions is thin, dwarfed by the attention industrial policies receive from policymakers acros...
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Nations have and will continue to shape their economies through industrial policy. Nevertheless, the empirical literature on these interventions is thin, dwarfed by the attention industrial policies receive from policymakers across the world. In this paper, I discuss the difficulties of empirically studying industrial policy and review how new econometric work is confronting these issues. Through careful research design and attention to institutional detail, I argue that emergent studies are rapidly expanding what we know-and updating what we thought we knew-about these policies. As well, I argue tools from policy evaluation allow us to study the impact of endogenous industrial interventions. This review is a proposal to take industrial policy, along with their complexities, more seriously as objects of inquiry. Doing so requires not only more serious evaluations of past policy but also a reevaluation of past empirical work and consensus.
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The target of zero emissions sets a new standard for industry and industrial policy. Industrial policy in the twenty-first century must aim to achieve zero emissions in the energy and emissions intensive industries. Sectors such a...
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The target of zero emissions sets a new standard for industry and industrial policy. Industrial policy in the twenty-first century must aim to achieve zero emissions in the energy and emissions intensive industries. Sectors such as steel, cement, and chemicals have so far largely been sheltered from the effects of climate policy. A major shift is needed, from contemporary industrial policy that mainly protects industry to policy strategies that transform the industry. For this purpose, we draw on a wide range of literatures including engineering, economics, policy, governance, and innovation studies to propose a comprehensive industrial policy framework. The policy framework relies on six pillars: directionality, knowledge creation and innovation, creating and reshaping markets, building capacity for governance and change, international coherence, and sensitivity to socio-economic implications of phase-outs. Complementary solutions relying on technological, organizational, and behavioural change must be pursued in parallel and throughout whole value chains. Current policy is limited to supporting mainly some options, e.g. energy efficiency and recycling, with some regions also adopting carbon pricing, although most often exempting the energy and emissions intensive industries. An extended range of options, such as demand management, materials efficiency, and electrification, must also be pursued to reach zero emissions. New policy research and evaluation approaches are needed to support and assess progress as these industries have hitherto largely been overlooked in domestic climate policy as well as international negotiations. Key policy insights Energy and emission intensive industries can no longer be complacent about the necessity of zero greenhouse gas (GHG) emissions. Zero emissions require profound technology and organizational changes across whole material value chains, from primary production to reduced demand, recycling and end-of-life of metals, cement, plastics, and other materials. New climate and industrial policies are necessary to transform basic materials industries, which are so far relatively sheltered from climate mitigation. It is important to complement technology R&D with the reshaping of markets and strengthened governance capacities in this emerging policy domain. Industrial transformation can be expected to take centre stage in future international climate policy and negotiations.
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The cluster policy plays an important guiding and supporting role in the development of industrial clusters. We first review and summarise the relevant research on policies relating to the development of industrial clusters, divid...
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The cluster policy plays an important guiding and supporting role in the development of industrial clusters. We first review and summarise the relevant research on policies relating to the development of industrial clusters, divide them into resource-provision policies and environment-improvement policies, and identify the impacts of the different policies on industrial clusters. Then, we summarise the important factors that influence the outcome of the policies in different circumstances. Last, inspired by the prior studies, we propose a dynamic, comprehensive policy formation process that can enhance the effectiveness of policy support and strengthen the sensitivity and responsiveness of the policy to the dynamic changes in the rapid development of industrial clusters.
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Purpose The purpose of this paper is to critically analyze the case of selective industrial policies for the automotive industry in Thailand. Design/methodology/approach Founding on previous literature and official government docu...
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Purpose The purpose of this paper is to critically analyze the case of selective industrial policies for the automotive industry in Thailand. Design/methodology/approach Founding on previous literature and official government documents, the authors describe the implemented policies, dividing them into four phases according to the main trend they followed. The authors suggest results the policies have or have not reached by analyzing the current state of the sector. Findings The main point is that selective policies implemented in the country were successful in helping the development of the sector as a whole, contributing to the role of Thailand as main actor in the international market. However, such policy initiatives were not able to solve some of the main issues of the automotive sector in the country related to local development, such as the technology dependence on foreign (mainly Japanese) firms and the weakness of local suppliers. Originality/value The authors frame the development of the automotive sector in a twofold perspective: on one hand, the international/exogenous factors and, on the other hand, the role of policy. The authors interpret the effects of selective industrial policy under the lens on both evolution and growth of the sector per se and on the enhancement of local capabilities. The work shows that the results do not go in the same direction.
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The objective of this paper is to compare the economic effects of innovation in an unconventional oil industry, based on Estonian and Canadian experiences with oil shale and oil sands, respectively. Both unconventional oil resourc...
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The objective of this paper is to compare the economic effects of innovation in an unconventional oil industry, based on Estonian and Canadian experiences with oil shale and oil sands, respectively. Both unconventional oil resources face similar challenges and need to resolve these through innovation. Based on empirical evidence, this paper concludes that innovation is a key mechanism of increasing efficiencies and triggering investments. Investments themselves, due to their nature, represent the best measure of the economic effect of cumulative innovation in the unconventional hydrocarbons industry.
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Formulating industrial policies is a complex process marked by advances and setbacks, reflecting the political and institutional aspects. In the present article, we aim to better understand the role of government relational capaci...
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Formulating industrial policies is a complex process marked by advances and setbacks, reflecting the political and institutional aspects. In the present article, we aim to better understand the role of government relational capacities in delineating the industrial policy profile. Based on a qualitative research on Brazilian industrial policies between 2003 and 2014, this study highlights how the interlocution and coordination between public and private actors are crucial in shaping the industrial policy profile. Our analysis shows that between 2003 and 2007, relational capacities were built, reflected in a focused industrial policy, predominantly applying regulatory instruments oriented to promote innovation. From 2007 to 2014, there was a progressive loss in relational capacities, the industrial policy lost strategic focus, and increased the use of tax relief instruments in its management.
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This review essay amalgamates the economic dynamics found in the rise of the computer industry, as detailed in Martin Campbell-Kelly and Daniel D. Garcia-Swartz, From mainframes to smartphones: A history of the international compu...
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This review essay amalgamates the economic dynamics found in the rise of the computer industry, as detailed in Martin Campbell-Kelly and Daniel D. Garcia-Swartz, From mainframes to smartphones: A history of the international computer industry (Harvard University Press, 2015), and the metamorphosis of data networks in Shane Greenstein, How the Internet became commercial: Innovation, privatization, and the birth of a new network (Princeton University Press, 2015). These developments have altered the fields of industrial organization and public policy, while shaping the economy of the future. Both books offer deep and illuminating histories that inform our understanding of markets, technology, and government regulation.
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International trade in the 21st century operates through global value chains (GVCs). There is a growing literature on how the emergence of GVCs has changed the playing field for catch-up industrialization of developing countries. ...
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International trade in the 21st century operates through global value chains (GVCs). There is a growing literature on how the emergence of GVCs has changed the playing field for catch-up industrialization of developing countries. Inter-industry linkages have historically been a central aspect of catch-up industrialization. How such linkages on the country level are affected by the reality that trade is conducted via GVCs is an important research question. This paper synthesizes the theoretical elaborations on inter-industry linkages from the classic development economics literature with secondary empirical data from the East Asian industrialization experience to illustrate the importance of inter-industry linkages for the industrialization process. Using primary data from the South African automotive industry, the paper shows how the dynamics of the automotive GVC have affected domestic inter-industry linkage building in the country. The backward linkages to the domestic component manufacturing industry and to the domestic materials industries from South Africa's successful integration into the automotive GVC have been disappointing. Both local policy decisions as well as GVC-specific dynamics of follow sourcing and the proliferation of manufacturing technologies and material standards have undermined more substantial backward linkages from exports of automobiles.
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The government is making all efforts to provide conducive atmosphere, level playing ground and policy support to enable the SSIs sector to achieve higher levels of production, exports and employment. The small-scale industry evoke...
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The government is making all efforts to provide conducive atmosphere, level playing ground and policy support to enable the SSIs sector to achieve higher levels of production, exports and employment. The small-scale industry evokes different meanings for different agencies and the financial institutions. However, the definition of small industry is an important aspect of government policy as it identifies the target groups. The Micro, Small and Medium Enterprises Development Act, 2006 was enacted on 16th June 2006. The Act has empowered the government to establish a National Board for micro, Small and Medium Enterprise. The small-scale sector has been assigned an important role in the industrial economy of the country on account of some of its inherent advantages like low capital intensity, high employment generation capacity, regionally balanced development and even distribution of wealth and income. There are two types of small-scale industries for which registration certificates are issued by the Department of Industries and Commerce as per the guidelines issued by Development Commissioner, Government of Indi, and New Delhi. The Industrial Policy Resolution, Five Year Plans and recommendation of different committees on SSIs focus on the need for adequate and timely delivery of credit to the SSIs sector by commercial banks. The increase in the working capital limits, as suggested by different committees on the financing of SSI units, would ease the flow of bank credit to the small-scale industry.
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Turkey has been investing in its national defence industrial base since the 1980s. As with other developing countries, Turkey's motivations for investing in national defence industries can be boiled down to the pursuit of defence ...
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Turkey has been investing in its national defence industrial base since the 1980s. As with other developing countries, Turkey's motivations for investing in national defence industries can be boiled down to the pursuit of defence autarky, economic benefits and international prestige. However, after 40 years of investment, Turkey is unable to reach the primary goals of defence industrialisation. We argue that three factors are important to understanding Turkey's persistence in these primary goals. First, Turkey believes that there is an overall improvement in its defence industrial capabilities and the goal of autarky is still reachable. Second, increased defence exports support the belief that Turkish defence industries have become sustainable and the trend will continue in the future. The third reason, perhaps most important of all, has to do with the domestic political gains of defence industrialisation: the AKP uses defence industry and indigenous weapon systems for prestige and, therefore, garners broader support.
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