Cases for Public Support: Market Failures

Pierre-André Buigues and Khalid Sekkat

Chapter 2 in Industrial Policy in Europe, Japan and the USA, 2009, pp 10-19 from Palgrave Macmillan

Abstract: Abstract Market failures refer to situations where market forces fail to fulfil their ‘responsibility’ of the optimal allocation of resources. They may be due to information imperfection, externalities, or imperfect competition and may justify public intervention. In this chapter we discuss the three kinds of market failures.

Keywords: Foreign Firm; Market Failure; Public Support; Industrial Policy; Network Externality (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-24435-1_2

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DOI: 10.1057/9780230244351_2

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