Creating Competitive Advantage: Policy Lessons from History

Nicholas Crafts

CAGE Online Working Paper Series from Competitive Advantage in the Global Economy (CAGE)

Abstract: This paper reviews selected aspects of the history of UK supply-side policy in terms of their productivity implications. An important change after the 1970s which improved productivity performance was the adoption of policies to end protectionism and strengthen competition. A review of horizontal industrial policies shows weaknesses in education, infrastructure, taxation and, especially, land-use planning but, on the positive side, a regulatory stance conducive to the rapid adoption of ICT. A big implication is that any return to a more active industrial policy should be designed to minimize adverse effects on competition.

Keywords: competition; industrial policy; productivity; supply-side policy (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (3)

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