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Innovation systems: from fixing market failures to creating markets

journal contribution
posted on 2023-06-08, 23:36 authored by Mariana Mazzucato
One lesson of the Great Recession has been that countries with higher shares of industry in their GDP seemed to be less affected by the crisis. Consequently, the call for an industrial renaissance has become stronger. Industrial policy has now become a top priority in countries where it was not explicitly considered in the past. A strong EU-wide industrial policy is expected to foster growth and job creation. However, cultivating industrial development is a complex challenge. This Forum addresses the steps that need to be taken to create a new European industrial policy. What are the structural challenges that need to be addressed? What are the instruments of the EU's industrial policy? And should the EU be engaged in picking winners, or is the market better at making such judgements?

History

Publication status

  • Published

Journal

Intereconomics

ISSN

0020-5346

Publisher

Springer Verlag

Issue

3

Volume

50

Page range

120-125

Department affiliated with

  • SPRU - Science Policy Research Unit Publications

Notes

This article falls withing the umbrella title: Which industrial policy does Europe need? (And to which the abstract given above refers) by Mariana Mazzucato, Mario Cimoli, Giovanni Dosi, Joseph E. Stiglitz, Michael A. Landesmann, Mario Pianta, Rainer Walz, Tim Page

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2015-12-03

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