 Public Support to Business: An OverviewPierre-André Buigues and Khalid Sekkat Chapter 1 in Industrial Policy in Europe, Japan and the USA, 2009, pp 3-9 from Palgrave Macmillan Abstract: 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 (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-24435-1_1 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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