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Rethinking industrial policy

Philippe Aghion, Julian Boulanger and Elie Cohen

Policy Briefs from Bruegel

Abstract: Industrial policy has a bad name- ‘picking winners’ and thus distorting competition, while exposing government to capture by vested interests. But there are reasons for a rethink. First, climate change- without government intervention to jump-start massive private investment in clean technologies, governments, by default, encourage investment in dirtier technologies. Second, a new post-crisis realism- laissez-faire complacency by many governments has led to mis-investment in the non-tradable sector at the expense...

Date: 2011-06
New Economics Papers: this item is included in nep-ene, nep-ind, nep-pke and nep-reg
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