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Industrial Policy with Conditionalities: A Taxonomy and Sample Cases

Mazzucato, Mariana; Rodrik, Dani; (2023) Industrial Policy with Conditionalities: A Taxonomy and Sample Cases. (Working Paper Series 2023-07). UCL Institute for Innovation and Public Purpose: London, UK. Green open access

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Abstract

In the context of a shift towards longer-term, public-value-oriented economic thinking, there is a real opportunity to reimagine the contracts that structure public-private relationships. Similar reasoning could also be relevant to the relationship between different public entities, such as the relationship between a country’s state-owned enterprise and the Treasury: benefits to the SOE can be structured with conditions to make sure the SOE directs its investments in particular ways, shares knowledge, makes products/services accessible, etc. Redesigning these contracts means redesigning the direction of the economy from the ground up. To succeed, modern industrial policies must be deliberately sustainable, welfare-oriented, and innovation-led; coordinated as a holistic package; and implemented cooperatively across government agencies and with the private and third sectors. The conditionalities written into contracts are a key site for realizing these aims.

Type: Working / discussion paper
Title: Industrial Policy with Conditionalities: A Taxonomy and Sample Cases
Open access status: An open access version is available from UCL Discovery
Publisher version: https://www.ucl.ac.uk/bartlett/public-purpose/wp20...
Language: English
Additional information: This version is the version of record. For information on re-use, please refer to the publisher’s terms and conditions.
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Inst for Innovation and Public Purpose
URI: https://discovery.ucl.ac.uk/id/eprint/10196231
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