Major institutional reforms that have introduced economic regulation in Europe and elsewhere appear to have ended traditional industrial policies of favouring selected national champion suppliers. Privatisation, the delegation of powers over mergers and acquisitions to the EU and independent competition authorities, new rules to ensure competition and prohibit state support to favoured companies and the end of planning, all appear to have led to a regulatory state. However, the article argues that regulatory reforms have in fact provided additional or alternative instruments for policy makers to favour European or international champion firms. The article analyses the different institutional reforms to show how they have provided instruments for policy makers to construct larger Europeanised and internationalised champion firms, shape markets through mergers and acquisitions, aid selected firms in liberalised markets, and to plan policies in ways that privilege chosen firms. It concludes that regulatory institutions are compatible with new forms industrial policy.

From old to new industrial policy via economic regulation / Thatcher, Mark. - In: RIVISTA DELLA REGOLAZIONE DEI MERCATI. - ISSN 2284-2934. - 2:(2014), pp. 6-22.

From old to new industrial policy via economic regulation

Mark Thatcher
2014

Abstract

Major institutional reforms that have introduced economic regulation in Europe and elsewhere appear to have ended traditional industrial policies of favouring selected national champion suppliers. Privatisation, the delegation of powers over mergers and acquisitions to the EU and independent competition authorities, new rules to ensure competition and prohibit state support to favoured companies and the end of planning, all appear to have led to a regulatory state. However, the article argues that regulatory reforms have in fact provided additional or alternative instruments for policy makers to favour European or international champion firms. The article analyses the different institutional reforms to show how they have provided instruments for policy makers to construct larger Europeanised and internationalised champion firms, shape markets through mergers and acquisitions, aid selected firms in liberalised markets, and to plan policies in ways that privilege chosen firms. It concludes that regulatory institutions are compatible with new forms industrial policy.
From old to new industrial policy via economic regulation / Thatcher, Mark. - In: RIVISTA DELLA REGOLAZIONE DEI MERCATI. - ISSN 2284-2934. - 2:(2014), pp. 6-22.
File in questo prodotto:
File Dimensione Formato  
6fzMQd-From%20old%20to%20new%20industrial%20policy.pdf

Solo gestori archivio

Tipologia: Versione dell'editore
Licenza: DRM non definito
Dimensione 295.38 kB
Formato Adobe PDF
295.38 kB Adobe PDF   Visualizza/Apri
Pubblicazioni consigliate

Caricamento pubblicazioni consigliate

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11385/182920
Citazioni
  • Scopus ND
  • ???jsp.display-item.citation.isi??? ND
social impact