Reassessing Cohesion Policy Through the Lens of the New EU Industrial Policy

The research note explores the role of cohesion policy in the emerging EU industrial agenda with the view to anchor it in the new industrial policy paradigm. The first part discusses the historical evolution of EU industrial policy and presents the main features of the conceptual perspective loosely referred to as ‘new industrial policy’. Then, the note investigates the main tensions between cohesion policy's rationales and instruments and the new industrial policy perspective, for instance in relation to the use of experimentation and directionality, and outlines pathways to address them through different lines of research. In conclusion, the note discusses positive avenues to tackle the identity crisis facing cohesion policy thanks to the new industrial policy perspective.