思略特：2023产业政策的潜力与弊端研究报告（英文版）（36页）.pdf

1、IDEATION CENTER INSIGHTPotential and pitfalls in industrial policy What works(and what doesnt)in state-led diversificationStrategy&|Potential and pitfalls in industrial policy2CONTENTS(Click on Sections to explore the document)Executive summaryIntroductionAbout the authors34Key takeawaysConclusion31

2、33Setting the stage:When the state mattersLessons learned06110305State-led diversification,if implemented properly,has the potential to unlock significant value for Gulf Cooperation Council(GCC)countries.This is the case more than ever,as the prevailing global mantra since the 1980s,i.e.,“leave it t

3、o the market,”has given way to increased state involvement in areas such as targeted subsidization and credit provision,trade protection,and direct investment in productive assets.Governments have an established role to play in economic growth and diversification everywhere:They provide public servi

4、ces,their stability is a determinant of investor confidence,and their regulatory frameworks allow modern markets to function.Yet,opinions differ as to how involved government should be beyond this.The degree to which state involvement is beneficial depends to some extent on the developmental context

5、 of a country.More advanced,already diversified economies operating at the technology frontier have the advantage of large,private corporations and thus are less in need of state involvement.Late developers,by contrast,may depend on state involvement to compensate for their nascent private-sector mu

6、scle.The success of government involvement among late-developing countries varies drastically,however,from high-performing late industrializers to those littered with white elephants and unrealized ambitions.State-led economic development also tends to be particularly important in resource-rich econ