Abstract
Abstract Can industrial policy be good policy? Can it be market-conforming (not producing market distortions via misallocation of resources) and market-ensuring (e.g. via antitrust or enforcement of property rights)? Can it create a smaller market distortion to prevent a larger one that might result from political ferment? This chapter explores issues of the definition of industrial policy, discusses market failure vs. government failure in specific industries, contrasts the options for industrial policy in regulatory states with those available in developmental states, and provides examples to illustrate these issues based on the author's empirical research on biotechnology, high definition and digital television, flat panel displays, semiconductors, software, and cellular telephones.
Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
