OECD Science, Technology and Industry Policy Papers

ISSN :
2307-4957 (online)
DOI :
10.1787/23074957
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The OECD Directorate for Science, Technology and Innovation (STI) develops evidence-based policy advice on the contribution of science, technology and industry to well-being and economic growth. STI Policy Papers cover a broad range of topics, including industry and globalisation, innovation and entrepreneurship, scientific R&D and emerging technologies. These reports are officially declassified by an OECD Committee.
 

Beyond Industrial Policy

Emerging Issues and New Trends You or your institution have access to this content

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Author(s):
Ken Warwick1
Author Affiliations
  • 1: Warwick Economics, United Kingdom

Publication Date
05 Apr 2013
Bibliographic information
No.:
2
Pages
57
DOI
10.1787/5k4869clw0xp-en

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This paper reviews the evidence on emerging thinking and new trends in the sphere of industrial policy. The paper adopts a broad and inclusive definition of industrial policy, and proposes a new typology based on the orientation of policy and the policy domain. Looking at a typology according to the policy domain, the paper proposes a framework based on growth accounting, which parallels the evolution of thinking about the rationale for industrial policy interventions, which has moved from a traditional approach based largely on product market interventions (production subsidies, state ownership, tariff protection), through market failure-correcting taxes and subsidies operating mainly on factor markets (R&D incentives, training subsidies, investment allowances, help with access to finance) to a focus on interventions that help build systems, create networks, develop institutions and align strategic priorities.