Industrial Policy
Industrial policy refers to government strategies aimed at promoting and supporting specific sectors or industries within a nation's economy. This can involve financial incentives, tax breaks, regulation adjustments, or direct investment, all intended to boost competitiveness and innovation. By targeting key industries—like technology, manufacturing, or energy—governments seek to create jobs, stimulate economic growth, and enhance global competitiveness. In the context of international industrial economics, these policies also consider global supply chains and trade dynamics to ensure that a nation's industries can thrive in the global market.
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Industrial policy refers to the strategies and measures a government implements to promote and support specific industries or sectors of the economy. This can include providing financial incentives, investing in research and development, or creating favorable regulations. The goal is to enhance competitiveness, foster innovation, create jobs, and encourage economic growth. By actively shaping the industrial landscape, governments aim to address challenges, support emerging technologies, and ensure that key industries thrive in a global marketplace.