Economic analysis of industrial policy

Abstract

What is industrial policy? postwar Japanese industrial policy - an historical overview. Part 1 Industrial promotion and trade: industrial policy and changing industrial structure theories of infant industry protection - an overview industrial set-up costs and Marshallian externalities scale economies and information choice of industrial structure and economic welfare. Part 2 Oligopolistic control of an international market: strategic behaviour and Nash equilibrium international redistribution of monopoly rents strategic entry deterring behaviour and entry assistant policy strategic intervention in international competition - significance and limitations. Part 3 Welfare implications of strategic competition in oligopolistic industries: the concept of competition - an evaluation economic implications of entry restriction policies investment competition and economic welfare - a reconsideration of the concept of excessive competition. Part 4 Research and development investment: characteristics of technical knowledge and incentives for research and development traditional theory of research and development and under-investment research and development competition and excess investment introduction market structure and research and development - innovation, improvement, and imitation research and development and industrial policy - with special reference to research and development associations. Part 5 Further problems in formulation of future industrial policy: problems related to industrial adjustment policies internationalization of the economy and industrial policies.

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