Industrial Policy and Competition

P. Aghion, M. Dewatripont, L. Du, A. Harrison, P. Legros
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引用次数: 346

Abstract

The economic slowdown in the 70s in Latin America and Japan in the late 90s, generated a growing skepticism about the role of industrial policy in the process of economic development. Yet, new considerations have emerged over the recent period, which invite us to revisit the issue. This paper argues that sectoral state aids tend to foster productivity, productivity growth, and product innovation to a larger extent when it targets more competitive sectors and when it is not concentrated on one or a small number of firms in the sector. Using a theoretical framework in which two firms may choose either to operate in the same "higher-growth" sector or in different, "lower-growth" sector. We use a panel of medium and large Chinese enterprises for the period 1998 through 2007 to test for complementarity between competition and industrial policy. A main implication from our analysis is that the debate on industrial policy should no longer be for or against having such a policy. As it turns out, sectoral policies are being implemented in one form or another by a large number of countries worldwide, starting with China. Rather, the issue should be on how to design and govern sectoral policies in order to make them more competition-friendly and therefore more growth-enhancing.
产业政策与竞争
上世纪70年代拉丁美洲和90年代末日本的经济放缓,使人们越来越怀疑产业政策在经济发展过程中的作用。然而,最近一段时期出现了新的考虑,这要求我们重新审议这个问题。本文认为,部门性国家援助在更大程度上倾向于促进生产率、生产率增长和产品创新,如果它的目标是更具竞争力的部门,而不是集中在该部门的一家或少数公司上。使用一个理论框架,其中两家公司可以选择在相同的“高增长”部门或在不同的“低增长”部门经营。我们以1998年至2007年的中国大中型企业为样本,检验竞争与产业政策之间的互补性。我们分析的一个主要含义是,关于产业政策的辩论不应再是支持或反对制定这样的政策。事实证明,从中国开始,世界上许多国家都在以这样或那样的形式实施行业政策。相反,问题应该是如何设计和管理部门政策,以使它们更有利于竞争,从而更能促进增长。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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