Theoretical approach of the industrial policy: debate on the legitimacy of the State's intervention

Abstract

Structural reforms and globalization have profoundly changed approaches to industrial policy. The concepts of the latter are explained from a theoretical point of view. However, the objectives, actors, fields of intervention, and approaches of effectiveness of the industrial policy deserve to be further clarified.

The competitiveness of companies and territories is one of the main objectives of the industrial policy. It includes all the measures taken to increase the competitiveness of the companies operating at the level of the territory of a country. What questions the role of the state or the public services in its improvement. Such a role can be interpreted from several angles. Nevertheless, the State remains a central actor in any action aimed at the development of the territory. Similarly, it has a crucial role to play in increasing the competitiveness of companies, especially in the industrial sector. Public services are capable of introducing changes that can develop internal economic activities and promote structural change. However, industrial policies need to be designed and implemented more carefully. For the choice of activities to develop and support must be well calculated. At this point, an important theoretical debate has been developed as detailed in this article.

This article allows, on the one hand, to apprehend the industrial policy from a theoretical point of view and to define its various concepts well, on the other hand. It will also be the occasion to highlight the effectiveness of the various approaches of the industrial policy, to explain its objectives and actors and to identify its fields of intervention.

JEL Classification : L52

Paper type : Theoretical Research