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From old to new industrial policy via economic regulation

Thatcher, Mark (2014) From old to new industrial policy via economic regulation. Rivista della regolazione dei mercati, 2. pp. 6-22. ISSN 2284-2934

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Major institutional reforms that have introduced economic regulation in Europe and elsewhere appear to have ended traditional industrial policies of favouring selected national champion suppliers. Privatisation, the delegation of powers over mergers and acquisitions to the EU and independent competition authorities, new rules to ensure competition and prohibit state support to favoured companies and the end of planning, all appear to have led to a regulatory state. However, the article argues that regulatory reforms have in fact provided additional or alternative instruments for policy makers to favour European or international champion firms. The article analyses the different institutional reforms to show how they have provided instruments for policy makers to construct larger Europeanised and internationalised champion firms, shape markets through mergers and acquisitions, aid selected firms in liberalised markets, and to plan policies in ways that privilege chosen firms. It concludes that regulatory institutions are compatible with new forms industrial policy.

Item Type: Article
Official URL:
Additional Information: ©2014 The Author
Divisions: Government
Public Policy Group
Centre for Analysis of Risk & Regulation
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor > HD2329 Industrialization
K Law > KZ Law of Nations
Date Deposited: 10 Jun 2015 12:05
Last Modified: 18 Oct 2021 23:10

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