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Aims to examine the issue of industrial strategy (IS), paying particular attention to the case of Britain. Sets out to assess the possibility and nature of an industrial strategy for Britain, in Europe, and within the global scene, taking into account the world we live in as we see it. Accordingly, the perspective is driven and shaped by a quest for a realistic, feasible and sustainable industrial strategy. In order to achieve these objectives, first examines the theoretical arguments behind much of British, and more generally, Western industrial policies. Following this, outlines and assesses British industrial policy post‐Second World War then compares and contrasts British industrial policy with that of Europe, the USA, Japan and the newly industrialized countries. Then examines recent developments in economics and management which may explain the “Far Eastern” miracle, and points to the possibility of a successful, narrowly self‐interested, IS for Europe and Britain, based on the lessons from (new) theory and international experience. To assess what is possible, develops a theoretical framework linking firms in their roles as consumers and/or electors. This hints at the possibilities and limits of feasible policies. All these ignore desirability which, in the author′s view, should be seen in terms of distributional considerations, themselves contributors to sustainability. Accordingly, discusses a desirable industrial strategy for Britain in Europe which accounts for distributional considerations, and goes on to examine its implications for the issue of North‐South convergence. Concludes by pointing to the limitations of the analysis and to directions for developments.

Industrial policy as practiced by the Japanese is aimed at creating comparative advantage for its industry. This article emphasises Japan's integrated approach to industrial policy. Examples of the application of industrial policy to specific industries are presented. The importance of incorporating the effects of such industrial policies for an analysis of competition in international markets is highlighted. Then, some appropriate strategic countermeasures to such industrial targeting are discussed.

The purpose of this article is to examine, appraise and highlight the significance of promoting innovation in aid of industrial development.

A comprehensive range of published literature is critiqued first to understand why industrial development constitutes a major objective of a country's economic strategy and government policy. Then, through a theoretical review of industrial policy works, relevant issues (e.g. how efficient industrial development sustains economic growth) are highlighted for discussion. For instance, the importance of private sector‐led industrial development and the need to adopt a primary focus on innovation‐driven industrial policy.

By drawing lessons from the developed world, the article explains why industrial policy‐making must address the pursuit of innovation as a prime mover of economic development; and further outlines the role of government in innovation‐driven industrial policy. As a case study, evolutionary perspectives of Singapore's industrialisation process are elaborated to illustrate a government's role in industrial policy‐making.

Future research could provide better guidance to address new emergent challenges of industrial policy‐making.

The discussion on industrial policy issues raised in this article is expected to be of interest to policy makers, industry planners, academic researchers and business practitioners.

This article offers insights into effective industrial policy‐making for developing nations that may help to transform their economies.

Researchers continue to seek understanding of industrialization as a state managed process. How to create and implement new industries based on advanced knowledge is on the policy agenda of many advanced nations. Measures that promote these developments include national capacity building in science and technology, the formation of technology transfer systems, and the establishment of industrial clusters. What these templates often overlook is an analysis of use. This chapter aims to increase the understanding of the processes that embed new solutions in structures from an industrial network perspective. The chapter describes an empirical study of high-technology industrialization in Taiwan that the researcher conducts to this end. The study shows that the Taiwanese industrial model is oversimplified and omits several important factors in the development of new industries. This study bases its findings on the notions that resource combination occurs in different time and space, the new always builds on existing resource structures, and the users are important as active participants in development processes.

This chapter focuses on the analysis of sectoral structure of the economy of the Republic of Belarus as well as on its structure by forms of ownership. The role of industry in national economy is highlighted. Dynamics and problems of its development are analyzed. It is shown that the share of services in GDP increases, while the share of manufacturing declines. Absolute size and share of the manufacturing employment trends down. The ongoing process of ownership structure transformation and the growing share of private and foreign ownership are featured. State-owned enterprises along with private enterprises with a state share comprise two-thirds of total industrial output, but this share is gradually shrinking. The industrial policy is viewed as an enabling factor of the country's economic development. Considerable attention is paid to the analysis of industrial policy of the Republic of Belarus, its goals and instruments as well as regulations. It is noted that the role of government in regulating the industrial structure of the economy is significant.

This conceptual paper aims to develop the vision of a novel policy tool called the digital industrial cluster (DIC) thought for a future context shaped by digital economies and Industry 4.0. The DIC departs from the industrial cluster’s precepts and take them into the digital agglomeration phenomenon.

This research uses a discursive and theoretical approach. To create a clear picture related to the research topic, this paper reviews the literature on how industrial clusters deal with digital transformation. The review takes a particular interest in industrial clusters, information and communication technologies, Industry 4.0 and policy tools for digital agglomeration.

The research develops the vision of the DIC as a new policy tool, building its foundations on both industrial clusters and digital economies; furthermore, the DIC was compared with other policy tools based on digital agglomeration to understand the similarities, differences and advantages of the former. Finally, this paper discussed where the DIC could find its way toward implementation and what externalities could be expected from doing so.

This research could be useful for policymakers and cluster organizations looking to deploy policy tools that take advantage of industrial clusters and digital transformation. Besides, the theoretical foundations presented could lead researchers to empirical identification of early incarnations of the DIC.

This paper develops theoretical principles for a new policy tool that connects industrial clusters, digital agglomeration and Industry 4.0 for the first time.

This study investigates whether and how place-based industrial relocation policy affects firm innovation.

By exploiting the establishment of China's National Industrial Relocation Demonstration Zones (NIRDZs) as a quasi-natural experiment in a difference-in-differences design, the authors examine the externalities of industrial policies that support sustainable development and growth from the perspectives of firms' patenting activities.

The study consistently finds that the NIRDZs policy significantly boosts local firm innovation, translating into a 60.46% increase in the patent applications of treated firms. The estimation results remain robust to a series of alternative specifications. Moreover, heterogeneity analysis suggests that the firms that benefited most were state-owned enterprises, firms with higher productivity, or firms in non-high-tech industries. Further, the authors find that the NIRDZs policy stimulates firm innovation mainly in the form of utility model patents, followed by designs and invention patents.

The results provide suggestions and implications for policymakers to improve the efficiency of state-led industrial policies and avoid “government failure” in policy implementation.

This study provides suggestions and implications for policymakers to improve the efficiency of state-led industrial policies and avoid “government failure” in the policy implementation.

This study fills the research gap by exploiting quasi-experiments to assess the effectiveness of state-led industrial policies for emerging economies. (2) The analysis sheds empirical light on how corporate innovation is motivated and financed by selective and functional industrial policies. (3) Theoretically, the results rationalize why state-led industrial relocation fuel innovation capabilities of localities from Marshall externalities and competition crowding-out effects.

The purpose of this paper is to explore the relationship between medium‐large firms' industrial performance, territorial factors and local development policies.

The paper is an empirical econometric investigation based on a panel dataset of county‐level data, carried out in the Guangdong Province for the period 2000‐2008.

Results suggest a positive and significant relationship between policies at the local level and business performance. The most important determinants of industrial performance appear to be development zones and specialized towns – on the policy side – as well as the presence of urban areas, investment in innovation and FDI. Given the complexity of the relationships, further research is called for in order to build more evidence for this and other Chinese provinces.

The analysis confirms the initial hypothesis that business excellence can be influenced by the specific characteristics of the territories where firms are located, among which there might be government policies aiming at local development and encouraging a better business environment.

Relevant to the policy‐making process, results suggest that business excellence should not be viewed as only a matter of business strategies. It can be a result of territorial excellence and effective local development policies.

In the international debate there are very few papers testing the relationship between policies and industrial performances in China. Even fewer explore this relationship at the local level. This paper offers a unique county‐level perspective and in‐depth view on local industrial policies.

Outlines the massive loan default problems faced by the Bangladesh banking industry and discusses the importance of consistent and adequate public policy in reducing them. Critically reviews the government’s industrial, fiscal, monetary and tariff policies since independence in 1971, referring to relevant research; and relates them to the loan repayment performance of industrial borrowers. Castigates its excessive bureaucratic controls, lack of co‐ordination or consistency and over‐supply of credit; and its failure to recognize entrepreneurs’ general lack of experience. Puts at least part of the blame for industrial loan defaults down to “flawed” policies.