Revitalizing industrial policy through smart, micro-level and bottom-up approaches

The purpose of this paper is to systemize the major characteristics and research areas of New Industrial Policy (NIP) and to identify the contribution of the current research monograph to these study areas. Recently, a new wave of industrial policies has been announced and called as new industrial policy by scholars and EU decision-makers. These policies are intended to address the challenges of the Fourth Industrial Revolution as well as concerns about the pace of economic growth and its uneven distribution. The new approach emphasizes place-based, micro-level and bottom-up approaches to growth-oriented industrial transformation and integrates a number of public support measures in this regard. The NIP institutions and implementation programs have already been launched and are in the experimentation phase. The more important are intense and concurrent research efforts that would both evaluate the on-going experience and enhance theoretical and methodological background. Based on the literature review, we systemize the constituent characteristics of NIP in terms of rationales, objectives, scope and governance levels, institutional framework, as well as major thematic areas and measures. When discussing these core elements, we point to i) their theoretical background, ii) their distinct nature in relation to the earlier industrial policy approaches; iii) major research issues and gaps. Next, we identify the contributions from the individual chapters in this volume and implications for further NIP-related research.
Gancarczyk, M., & Ujwary-Gil, A. (2020). Revitalizing industrial policy through smart, micro-level and bottom-up approaches. In A. Ujwary-Gil & M. Gancarczyk (Eds.), New Challenges in Economic Policy, Business, and Management (pp. 11-29). Warsaw: Institute of Economics, Polish Academy of Sciences.
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