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Discuss the theoretical rationale for industrial policy in the EU. To what extent is there a need for policies at both the EU level and member state levels?
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Competition, Industrial and Technology Policy in the EU Discuss the theoretical rationale for industrial policy in the EU. To what extent is there a need for policies at both the EU level and member state levels? Industrial policy has an important part to play in the economics of the European Union. Before discussing the EU's approach to this issue, it is important to define what we mean by industrial policy. One of the broader definitions of industrial policy states that it "embraces all acts and policies of the state in relation to industry." (Bayliss and El-Agraa, 1990) However, industrial policy is not merely concerned with only manufacturing sectors, for example, a policy to support a service activity, like a bank or a airline, qualifies as an industrial policy. Therefore, a broad economic definition of industrial policy might be "all acts and policies of the state to alter the allocation of resources between...
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