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Industrial Policy in the United States |
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| Authors: | Christian H M Ketels |
| Institution: | 1. Institute for Strategy and Competitiveness, Harvard Business School, Boston, MA, USA 2. Center for Strategy and Competitiveness, Stockholm School of Economics, Stockholm, Sweden 3. Harvard Business School, Ludcke House Soldiers Field, Boston, MA, 02163, USA |
| Abstract: | Does US government policy purposefully benefit particular industries or is industrial policy absent in the USA? Based on a review of recent US policies this paper argues that the USA applies many policies with an industry-specific impact. But these policies do not differ significantly from those in other countries and the process in which US industrial policies emerge severely limits their consistency. What differentiates the USA is a microeconomic business environment that enables a high degree of regional specialization, benefits especially knowledge-driven industries, and raises the impact of innovation and entrepreneurship policies. |
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