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BEGIN:VEVENT
DTSTAMP:20260506T072049Z
DTSTART;VALUE=DATE-TIME:20220512T111500
DTEND;VALUE=DATE-TIME:20220512T123000
SUMMARY:Political Economy Seminar - Nathan Lane (Oxford)
TZID:Europe/London
UID:20220512-8a1785d7801dd52b01804106567f40e9@warwick.ac.uk
CREATED:20220510T105624Z
DESCRIPTION:Title: The Who\, What\, When\, and How of Industrial Policy: 
 A Text-Based Approach Abstract: Whether industrial policy (IP) can promo
 te economic change is an age-old question in economic development and gr
 owth. Yet\, outside a handful of case studies\, we understand little abo
 ut these policies—including basic facts. Two key reasons for this defici
 t are lack of measurement and lack of data. Our paper addresses these is
 sues by creating a text-based approach to measuring industrial policy an
 d providing a global view of practice in the 21st century. We use machin
 e learning to construct a classifier for coding instances of IP from tex
 tual summaries of policy. We then apply our tool to a comprehensive\, En
 glish-language database of international economic policy. In doing so\, 
 we create a new dataset of industrial policy at the country-product-year
  level\, and establish five fundamental facts about global industrial po
 licy from 2009 to 2020. First\, IP is practiced by a very limited set of
  countries. Second\, the countries engaged most in IP tend to be wealthi
 er (in the top income quintile) liberal democracies\, and IP is rare amo
 ng the poorest nations (bottom quintile). Third\, when countries use IP\
 , they do so selectively: policies tend to be highly targeted towards a 
 small set of industries. Rich and poor countries target similar sectors\
 , with the exception of green IP (wealthier countries) and textiles (poo
 rer countries). Fourth\, industrial policy has indeed returned\, and pra
 ctice has trended upward since the 2010s. Fifth\, countries use very spe
 cific tools for IP aims. Many trade policies are not industrial policy m
 easures\, and among the many potential instruments\, the bulk of IP are 
 subsidies and export-promotion measures. Thus\, we find contemporary pra
 ctice is a far cry from industrial policy’s past\, and tends toward spec
 ific\, selective\, export-oriented policies used by the world’s more dev
 eloped economies.
LOCATION:S2.79
CATEGORIES:Political Economy and Public Economics Seminar
LAST-MODIFIED:20220510T105624Z
ORGANIZER;CN=Gill Gudger:
END:VEVENT
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