The hidden costs of China’s industrial policy
China uses a wide array of industrial policies, such as subsidies and regulations, to promote strategic economic sectors. This column estimates that the equivalent fiscal
Industrial policy and retaliatory protection under the WTO: Lessons from China
Industrial policy is increasingly implemented worldwide, with many policymakers and researchers highlighting its benefits. However, the cost of industrial policy remains less understood. Using Chinese
State aid in times of crisis: Lessons from COVID-19 support for firms in Italy and Spain
The unprecedented wave of state aid to firms across the EU during the COVID-19 pandemic raised questions about who benefited and how effective these interventions
Tax incentives for R&D can spur innovation and growth—when done right
As the debate around industrial policy intensifies, there is broad consensus on the rationale for government support to encourage private sector innovation. Economy-wide returns from
Industrial policy lessons from East Germany’s privatisation
There has been renewed interest in industrial policy as a tool to reshape the structure of economic activity, but little evidence exists on the successful
