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indirect effects often involve market distortions. By contrast, the literature is broadly united on the benefits of competition … for productivity and innovation. This review finds that the most successful industrial policies reinforce competition …, suggesting that competition policy and certain types of industrial policy can be crafted as complements …
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The general principle is that it is crucial for the government to provide a stable macroeconomic environment conducive to business development with a clear, transparent and neutral regulatory environment and neutral incentives to all firms and industries. Clear, transparent and neutral...
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