Industrial policy, essential for addressing market failures, encounters concerns regarding protecting inefficient firms. We advocate for competition-friendly industrial policies, underscoring the complementary relationship between industrial and competition policies and the benefits of targeted sector-specific subsidies. We emphasize the significance of market competitiveness for sustainable industrial development, drawing from theoretical models and empirical evidence from China. We argue that
...THIS ARTICLE IS NOT AVAILABLE FOR IP ADDRESS 193.68.89.183
Please verify email or join us to access premium content!