Industrial policy learnings from a Soviet model versus Japanese
SummaryIt has had mixed results in the past and its success will depend on the economic logic and internal consistency of its pursuit.
Economists at the International Monetary Fund (IMF) wrote a paper in 2019 on the resurgence of industry policy. It had an interesting headline: ‘The Return of the Policy That Shall Not Be Named: The Principles of Industrial Policy’. There is now growing evidence that Lord Voldemort is back.