European Industrial Policy

industrial policy

industrial policy, government-sponsored economic program in which the public and private sectors coordinate their efforts to develop new technologies and industries. Government provides the financial support and capital to the private sector by direct subsidies, tax credits, or government-run developmental banks. Industrial policy emphasizes cooperation between government, banks, private enterprise, and employees to strengthen the national economy. In the 1980s and 90s, industrial policies enjoyed some success in Germany and Japan. In the United States, such direct government involvement in business planning has traditionally been viewed with suspicion. However, the Advanced Technology Program, begun in 1990, has been instrumental in the research and development of promising, high-risk technologies. U.S. government subsidies can also be found in such areas as defense, energy, transportation, and home construction.

See R. Reich, The Work of Nations (1991).

The Columbia Encyclopedia, 6th ed. Copyright© 2014, The Columbia University Press.

Selected full-text books and articles on this topic

European Industrial Policy: The Twentieth-Century Experience
James Foreman-Peck; Giovanni Federico.
Oxford University, 1999
Industrial Policy in Europe: Theoretical Perspectives and Practical Proposals
Keith Cowling.
Routledge, 1999
The Expanding European Union: Past, Present, Future
John Redmond; Glenda G. Rosenthal.
Lynne Rienner Publishers, 1998
Librarian’s tip: Chap. 7 "The Impact of Enlargement on EU Trade and Industrial Policy"
The Impact of EU Association on Industrial Policy Making
Campbell, Carolyn.
East European Quarterly, Vol. 35, No. 4, Winter 2001
Competition Law and Industrial Policy in the EU
Wolf Sauter.
Clarendon Press, 1997
Industrial Enterprise and European Integration: From National to International Champions in Western Europe
Jack E. S. Hayward.
Oxford University, 1995
Managing Modern Capitalism: Industrial Renewal and Workplace Democracy in the United States and Western Europe
M. Donald Hancock; John Logue; Bernt Schiller.
Praeger, 1991
Europe's Economic Challenge: Analyses of Industrial Strategy and Agenda for the 1990s
Patrizio Bianchi; Keith Cowling; Roger Sugden.
Routledge, 1994
Quest for Economic Empire: European Strategies of German Big Business in the Twentieth Century
Volker R. Berghahn.
Berghahn Books, 1996
French Industrial Policy
William James Adams; Christian Stoffaës.
The Brookings Institution, 1986
Competition in Regulated Industries
Dieter Helm; Tim Jenkinson.
Oxford University, 1998
Labour Governments and Private Industry: The Experience of 1945-1951
H. Mercer; N. Rollings; J. D. Tomlinson.
Edinburgh University Press, 1992
Restructuring the French Economy: Government and the Rise of Market Competition since World War II
William James Adams.
The Brookings Institution, 1989
Instruments and Institutions of Industrial Policy at the Regional Level in Germany: The Example of Industrial Defense Conversion
Elsner, Wolfram.
Journal of Economic Issues, Vol. 29, No. 2, June 1995
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