Industrial Development can be driven by policies in countries of origin, countries of destination, corporations own initiatives and by international institutions. In this note we focus on the role of industrial agencies and policy within nations. The latter, particularly if implemented widely across nations, is the most direct pathway to sustainable industrial development.
Read the full brief below and share your comments
Industrial policy is back on the agenda and the consensus is that it must be different ‘this time’ from the past. Following Aiginger et al. (2013) we redefine industrial policy for industrialised countries as a strategy to promote ‘high-road competitiveness’, understood as the ability of an economy to achieve ‘Beyond-GDP’ Goals. ‘Highroad strategies’ are based on advanced skills, innovation, supporting institutions, ecological ambition and an activating social policy. This ‘new industrial policy’ is systemic, working in alignment with other policy strands and supporting social and environmental goals; it affects the structure of the economy as the whole not only the manufacturing sector. Shortterm actions, such as protecting employment in unviable companies, low prices for fossil fuels, or reducing wages in high-income economies are counterproductive. To pursue an industrial policy that targets society’s ultimate goals without public micromanagement will be challenging. It could be achieved (i) by setting incentives, particularly those impacting on technical progress (e.g. to make it less labour-saving and more energy-saving), (ii) by the use of the important role governments have in the education and research sectors, (iii) by greater public awareness and (iv) if consumer preferences will call for socio-ecological transition.
Click on the link below to read the full brief and share your comments
Decoupling of resources use from economic growth is one of the central challenges of pathways towards a sustainable future. In this context, industrial symbiosis holds huge potential. While increased resource efficiency is one of its central aspects, industrial symbiosis links to broader agendas in the fields of green economy, innovation, material and energy security, climate change, as well as local, regional and national welfare.
Click on the below link to read the full brief and share your comments.