The Revival of Industrial Policy: A New Era of Government Intervention in the Economy
Governments are also becoming increasingly involved in helping certain companies and industries to achieve domestic goals like productivity increase, supply chain sustainability, strategic independence, and job security. According to the statistics of the Global Trade Alert (GTA), summarized in the World Economic Outlook (WEO) of the International Monetary Fund (IMF), there is an increase in new interventions in industrial policies, which starts to grow significantly after 2018 and has reached its apogee around the pandemic. There has been a significant increase in the number of measures of industrial policies in the world.
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