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Public Support to Business: An Overview

  • Pierre-André Buigues
  • Khalid Sekkat

Abstract

It is difficult to find a precise and unambiguous definition to public support to business (see Aiginger, 2007 for a discussion). Economists often use the term ‘industrial policy’ instead of ‘public support’. In this book we use interchangeably the terms industrial policy and public support policy. In general, any economic policy which influences industry can be referred to as public support to business. In the broad sense, such a support encompasses public sector intervention aimed at changing the distribution of resources between economic sectors and activities (Caves, 1987). However, the concept of public support to business agreed upon by economists since the early eighties also includes issues linked to innovation, economic growth, technological progress, and entrepreneurship. Public support policy is, therefore, a sort of complement to market forces that reinforce or counteract the allocation that market forces would otherwise produce.

Keywords

Gross Domestic Product Public Support Industrial Policy Public Procurement Gross Domestic Product Growth 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Pierre-André Buigues and Khalid Sekkat 2009

Authors and Affiliations

  • Pierre-André Buigues
  • Khalid Sekkat

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