Governments globally are (re-)turning to diverse industrial policy instruments to fight multiple crises and tackle long-term societal challenges such as the climate emergency. Both mainstream and heterodox economists and social scientists have expressed support for the resurgence of state-led structural change, and there is a vibrant discussion about how industrial policy instruments should be made fit for purpose for today’s challenges. However, there is much less discussion about whether governments have the capacity to design, implement and evaluate an effective set of industrial and other transformative policies.
As the industrial strategy is being updated to fit the needs of 21st-century challenges and political realities, this session will investigate whether governments - and researchers - are updating the way to create capable agencies, effective coordination mechanisms and proper evaluation tools for new industrial policy mixes.
The transformative policy is shifting policy logic from fixing a variety of market and systems failures to actively shaping markets for desirable outcomes, and this requires governments to build appropriate organisations and public sector capacities to take on such tasks.
1 окт 2024
