Abstract
There is little agreement on how to define “industrial policy”: government intervention and participation in the economy has changed over the 20th century and across nations and regions. The prevailing orthodoxy is that governments cannot create wealth directly, but can only create the conditions for wealth creation in the private sector. This stresses policy changes to reduce taxes, to privatize state enterprises and public services, to deregulate environmental protections, labour laws, consumer protection, and to stress export-oriented economic development. These measures should be considered to be “passive” industrial policy, at one end of a spectrum of choices around the degree of intervention by the state.
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Lee, M. (2002). The Future of Industrial Policy in a WTO World. In: McBride, S., Dobuzinskis, L., Cohen, M.G., Busumtwi-Sam, J. (eds) Global Instability. Social Indicators Research Series, vol 13. Springer, Dordrecht. https://doi.org/10.1007/978-94-010-0251-6_7
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DOI: https://doi.org/10.1007/978-94-010-0251-6_7
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