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Industrial Policy for the Medium to Long-term

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  • Crafts, Nicholas

    (University of Warwick)

  • Hughes, Alan

    (University of Cambridge)

Abstract

This report reviews the market failure and systems failure rationales for industrial policy and assesses the evidence on part experience of industrial policy in the UK. In the light of this, it reviews options for reshaping the design and delivery of industrial policy towards UK manufacturing. These options are intended to encourage a medium- to long-term perspective across government departments and to integrate science, innovation and industrial policy.

Suggested Citation

  • Crafts, Nicholas & Hughes, Alan, 2014. "Industrial Policy for the Medium to Long-term," CAGE Online Working Paper Series 179, Competitive Advantage in the Global Economy (CAGE).
    • Handle: RePEc:cge:wacage:179
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    Cited by:

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    2. Lahr, Henry & Mina, Andrea, 2016. "Venture capital investments and the technological performance of portfolio firms," Research Policy, Elsevier, vol. 45(1), pages 303-318.
    3. Mao, Jie & Tang, Shiping & Xiao, Zhiguo & Zhi, Qiang, 2021. "Industrial policy intensity, technological change, and productivity growth: Evidence from China," Research Policy, Elsevier, vol. 50(7).
    4. Selviaridis, Kostas & Hughes, Alan & Spring, Martin, 2023. "Facilitating public procurement of innovation in the UK defence and health sectors: Innovation intermediaries as institutional entrepreneurs," Research Policy, Elsevier, vol. 52(2).

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    More about this item

    Keywords

    UK manufacturing; industrial policy;

    JEL classification:

    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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