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Industrial Policy On The Rise: Comments by Laurids S. Lauridsen Roskilde University

The document discusses the rising prominence of industrial policy approaches to economic development. It contrasts the traditional development discourse that emphasized trade liberalization, FDI, and comparative advantage with a new(old) discourse that advocates for strategic industrial policy interventions, production priorities, and developmental states. It raises issues for discussion around different industrial policy approaches, the feasibility of such policies given varying state capacities, and how changing global conditions like trade agreements and value chains impact the policy space.

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124 views7 pages

Industrial Policy On The Rise: Comments by Laurids S. Lauridsen Roskilde University

The document discusses the rising prominence of industrial policy approaches to economic development. It contrasts the traditional development discourse that emphasized trade liberalization, FDI, and comparative advantage with a new(old) discourse that advocates for strategic industrial policy interventions, production priorities, and developmental states. It raises issues for discussion around different industrial policy approaches, the feasibility of such policies given varying state capacities, and how changing global conditions like trade agreements and value chains impact the policy space.

Uploaded by

st_constantinos240
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
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Industrial Policy on the Rise

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