The debate on industrial policy (IP) has been characterized by a number of contractions over the concept of industrial policy, its merits, contents and application. The purpose of this exploratory paper is to review the debate on IP. Outlining the concept and instruments of industrial policy,...

This paper calls for a fresh look at industrial policies in the light of recent trends and developments in the global economy. In particular, five new challenges and their implications for industrial policies are discussed. These have been neglected in the debate on industrial policy and include...