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Industrial Policy

The Coevolution of Public and Private Sources of Finance for Important Emerging and Evolving Technologies

Kenneth I. Carlaw, Richard G. Lipsey

Cambridge University Press
Publication date : 2022-07-14

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Dismissing industrial policy because 'governments cannot pick winners' is counter-productive. This Element studying selected major innovations illustrates the fact that virtually all major new technologies have been developed by a synergetic cooperation between the public and the private sectors, each doing what it can do best. By examining how R&D is financed, rather than where it takes place, the authors show that the role of the public sector is much more pronounced than is often thought. The nature of the cooperation - who does what - varies with the nature of each innovation so that simple, one-size-fits-all, rules about what each sector should do are suspect. These results are particularly important because they challenge the scepticism in the United states and elsewhere about the importance of industrial policy, a scepticism that threatens to undermine the long-term, and necessary cooperation, between the public and private sectors in promoting growth-inducing innovations.

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About the book

Author

Kenneth I. Carlaw , Richard G. Lipsey

Imprint

Cambridge University Press

Collection

n.c

Publication date

2022-07-14

Pages

n.c

Print ISBN

9781009227483

Language

English

Ebook informations

EAN PDF

9781009227506

Price

£18.99

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File size 2335 Ko

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EAN EPUB

9781009227476

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£18.99

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File size 2877 Ko

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About author(s)

Kenneth I. Carlaw

Richard G. Lipsey

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