The New European Industrial Policy

The years since the global financial crisis have seen something of a renaissance in the manufacturing industry. The United States has launched its Advanced Manufacturing Partnership, and China owes much of its spectacular economic boom in the last decades to its being the 'world's factory'. Is there room for the EU in this landscape? This timely new book explores Europe’s role in this evolving environment. It argues that on the one hand, in terms of sheer numbers, the role of the manufacturing industry in the EU is on a par with other major global economies. However, the book also states that Europe falls short of its global competitors (the USA in particular) in terms of its involvement in the most innovative manufacturing sectors. The volume therefore argues that this creates the opportunity for a new European industrial policy. Exploring the development of current EU policy, the book puts forward suggestions as to how the EU can improve in terms of the competitiveness of its technology policy. Placing the EU’s position in the context of the industrial structures of the USA, Japan and the BRICs, the book blends theoretical models and practical examples in order to offer a the state of the art look at the current and future direction of Europe’s industrial policy. This book will be of relevance to all those with an interest in European economics, industrial economics, public policy, European politics and European studies.

The main objective of this book has been to carry out research into the definition of industrial policy and its goals; to evaluate previously-introduced policies and instruments; and to identify the future challenges for and features of a modern EU industrial policy. A modern industrial policy is seen as a non-traditional policy towards the industrial sector, based not necessarily on only the elimination of market failures (within the sectoral and/or horizontal approaches), but rather on the expanding the scope of industrial economic activities within the framework of both the pre- and post-fabrication stages. The book targets three market segments: academics; policy and decision-makers at the EU, national and regional level, as well as business practitioners. It includes a wide-ranging analysis of different spheres of industrial policies conducted within the European Union, making it of interest to an international audience. Each chapter also offers detailed and valuable comments, as well as conclusions that can be generally applied, ensuring the book’s universality. The book presents the results of a research project conducted in the Collegium of World Economy at the Warsaw School of Economics.

The years since the global financial crisis have seen something of a renaissance in the manufacturing industry. The United States has launched its Advanced Manufacturing Partnership, and China owes much of its spectacular economic boom in the last decades to its being the 'world's factory'. Is there room for the EU in this landscape? This timely new book explores Europe’s role in this evolving environment. It argues that on the one hand, in terms of sheer numbers, the role of the manufacturing industry in the EU is on a par with other major global economies. However, the book also states that Europe falls short of its global competitors (the USA in particular) in terms of its involvement in the most innovative manufacturing sectors. The volume therefore argues that this creates the opportunity for a new European industrial policy. Exploring the development of current EU policy, the book puts forward suggestions as to how the EU can improve in terms of the competitiveness of its technology policy. Placing the EU’s position in the context of the industrial structures of the USA, Japan and the BRICs, the book blends theoretical models and practical examples in order to offer a the state of the art look at the current and future direction of Europe’s industrial policy. This book will be of relevance to all those with an interest in European economics, industrial economics, public policy, European politics and European studies.

The European Green Deal aims to make Europe the first climate-neutral continent by 2050. This is not going to be an easy journey. To be successful, the European Green Deal will have to foster major shifts in the European industrial structure, including transitions from fossil fuels to renewable energy and from combustion engine cars to electric cars. Shifting economies from brown to green would be a major, historic socio-economic transformation. In this context of broad, paradigmatic, change for European industry, a 'green industrial policy' will be fundamental to Europe's climate change ambitions. But what is green industrial policy? What market failures must it address? Unlike traditional industrial policy, green industrial policy must be directed to twin goals of climate protection and social welfare. Green industrial policy initiatives in the European Union so far, however, have been piecemeal and fragmented. This Blueprint examines how past mistakes can be avoided and how the EU can develop a coherent green industrial policy that will serve the goals of the European Green Deal.

The present study aims to contribute to an understanding of European industrial policy by introducing an historical perspective. National policy continuities and the considerable time over which industrial performance responds to changed environments emerge with greater clarity in the long run. The chapters in this book take a broad view of industrial policy, including those policies that establish the `framework', such as competition law, as well as sector for firm specific policies.

First published in 1996. Routledge is an imprint of Taylor & Francis, an informa company.

Industrial policy has long been regarded as a strategy to encourage sector-, industry-, or economy-wide development by the state. It has been central to competitiveness, catching up, and structural change in both advanced and developing countries. It has also been one of the most contested perspectives, reflecting ideologically inflected debates and shifts in prevailing ideas. There has lately been a renewed interest in industrial policy in academic circles and international policy dialogues, prompted by the weak outcomes of policies pursued by many developing countries under the direction of the Washington Consensus (and its descendants), the slow economic recovery of many advanced economies after the 2008 global financial crisis, and mounting anxieties about the national consequences of globalization. The Oxford Handbook of Industrial Policy presents a comprehensive review of and a novel approach to the conceptual and theoretical foundations of industrial policy. The Handbook also presents analytical perspectives on how industrial policy connects to broader issues of development strategy, macro-economic policies, infrastructure development, human capital, and political economy. By combining historical and theoretical perspectives, and integrating conceptual issues with empirical evidence drawn from advanced, emerging, and developing countries, The Handbook offers valuable lessons and policy insights to policymakers, practitioners and researchers on developing productive transformation, technological capabilities, and international competitiveness. It addresses pressing issues including climate change, the gendered dimensions of industrial policy, global governance, and technical change. Written by leading international thinkers on the subject, the volume pulls together different perspectives and schools of thought from neo-classical to structuralist development economists to discuss and highlight the adaptation of industrial policy in an ever-changing socio-economic and political landscape.