De juridische bescherming van banken en aandeelhouders beïnvloedt de omvang en kwaliteit van het financiële systeem en daarmee de economische groei. Gebrekkige (juridische) instituties in transitie-economieën kunnen de economische ontwikkeling van deze landen dan ook afremmen. Zo dragen...

The Inflation Reduction Act (IRA), passed under the Biden administration in August 2022, is the biggest US climate bill to date. Its focus on subsidy-driven decarbonization incentives marks a potential turning point in US industrial policy and might prevent its repeal under the upcoming Trump...

I study the impact of industrial policy on industrial development by considering a canonical intervention. Following a political crisis, South Korea dramatically altered its development strategy with a sector-specific industrial policy: the Heavy and Chemical Industry (HCI) drive, 1973-1979....

In this paper we propose a novel sectoral taxonomy integrating three different attributes of sectors, namely i) the strategic dimension reflected into their belonging to different classes of the Pavitt taxonomy, ii) the capacity to create jobs both internally and externally with respect to their...

Since the late 1970s, the Chinese government has been undertaking major efforts in developing their countries economy by means of industrial policy. However, a more narrow approach to industrial policy has been pursued only since 2010, with the initiation of the 'Strategic Emerging Industries'...

I study the effect of an innovation subsidy on the growth of firms in a developing country. Using administrative microdata for Brazil and difference-in-differences, I find that innovation subsidies drive firm growth by facilitating firm entry into high-tariff markets with domestically produced,...

Three decades of Turkish experience with nonselective industrial policies (consistent with neoliberal policy) clearly demonstrates that structural transformation in Turkish economy could not be achieved. In this paper, we have three motivations. Our first motivation is to discuss overall...

The state owned enterprises were crucial in the early stage of industrial development in Turkey. They were producer of basic consumption goods and contributed the building the entrepreneurial understanding, and hence the development of the private sector. State owned enterprises have played key...