Reading Time: 4 minutesAfter years in economic exile, industrial policies are back in a big way. Industrial policy interventions increased 20-fold in the past decade, as governments seek to rebuild competitiveness, support emerging technologies and shore up supply chains. This is true in OECD countries, but also in developing countries which use it more intensively.
Many of these are adopting a place-based approach: between 2019-22, regional industrial policy support rose by over 50% as a share of GDP in 11 OECD countries. But why?
