Successful Industrial Policy Requires Industry Experts
Industrial policies have the potential to boost productivity and fuel economic growth while enabling governments to push back against excessive corporate influence. But their success depends on technical expertise and a nuanced understanding of the risks and opportunities within specific sectors.
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CAMBRIDGE – After decades on the fringes of economic debate, industrial policy has enjoyed a resurgence in recent years, with the United States, the European Union, and China all ramping up their efforts to promote strategic sectors. Even the International Monetary Fund – once a vocal critic of industrial policy – has recently come around to endorsing it.