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Industrial policy in practice : current issues

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Frame of Image need to be well thought out. Otherwise they may do more harm than good. The case for a specific industrial policy should be carefully made. Objectives
should be clearly specified. Theoretical justification should be spelled out. Industrial policies in the areas of competition, regional development, innovation and trade are considered in this paper. Various stances on industrial policy are identified and evaluated. The role and effects of industrial policy, focusing more on practical points of view, are also added.
1. What is Industrial Policy?
Most government action has some effect on the industrial sector of the economy. In many cases, this is simply a consequence of policy elsewherefor example, import controls to help the balance of payments or increases in interest rates to control the money supply. In other instances, government action has a more deliberate effect on the operation of industry, but would generally not be considered as industrial policy. This is because the main objective is to influence some other aspect of the economy. Industrial policy usually relates to those policies whose main direct effect is on individual firms, industries, or industry as a whole. Lindbeck(1981) defines
industrial policy as the following: Political actions designed to affect either the general mechanism of production and resource allocation or the actual allocation of resources among sectors of production by means other than general monetary and fiscal policies which are designed to


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Title Industrial policy in practice
Similar Titles
Sub Title

current issues

Material Type Reports
Author(English)

Kim, Kihwan

Author(Korean)

김기환

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2008
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 13; no.5
Pages 10
Frequency Bimonthly
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < General
Holding KDI School of Public Policy and Management

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