Semiconductors and Modern Industrial Policy

Chad Bown and Dan Wang

Journal of Economic Perspectives, 2024, vol. 38, issue 4, 81-110

Abstract: Semiconductors have emerged as a headline in the resurgence of modern industrial policy. This paper explores the political economic history of the sector, the changing nature of the semiconductor supply chain, and the new sources of concern that have motivated the most recent turn to government intervention. It also explores details of that turn to industrial policy by the United States, China, Japan, Europe, South Korea, and Taiwan. Modern industrial policy for semiconductors has included not only subsidies for manufacturing, but also new import tariffs, export controls, foreign investment screening, and antitrust actions.

JEL-codes: F13 F23 L14 L22 L52 L63 P23 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1257/jep.38.4.81

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