Chapter

Industrial Policy

Dan Coffey and Carole Thornley

in New Perspectives on Industrial Policy for a Modern Britain

Published in print April 2015 | ISBN: 9780198706205
Published online August 2015 | e-ISBN: 9780191775307 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198706205.003.0020
Industrial Policy

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This chapter explores the prospects for aligning industrial policy with the green agenda. The chapter highlights significant barriers in shifting industrial policy from being largely ‘horizontal’ in terms of supporting a broad range of sectors to one which is targeted upon specific sectors, where there is a concomitant aim of reducing carbon emissions. By considering recent policy initiatives in the UK, the chapter argues that beyond the rhetoric of promoting low carbon industrial development, political and economic constraints often undermine sustainable economic development. As the chapter highlights, significant stresses arise in matching traditional industrial policy goals (such as improvements to the balance of trade, employment, and growth) with sustainability outcomes. The chapter illustrates these stresses through a careful policy review of the UK car industry, which is branch-arm of a global industry and a major source of carbon emissions, and where sustainability is a major theme.

Keywords: industrial policy; green agenda; car industry; sustainable development

Chapter.  12198 words.  Illustrated.

Subjects: Public Economics ; Macroeconomics and Monetary Economics

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