Abstract
During the 1980s, trade theorists have advanced a new case for government intervention based on supporting the ‘strategic’ rôle of key firms in oligopolistic industries.1 It is assumed that firms in these industries so dominate the international market (either actually or potentially) that their actions influence the actions of other players in other countries. Government support for such firms may increase their credibility to such an extent that it alters foreign firms’ reactions in a way that is advantageous to the home country.
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