developmental industrial policy

Developmental industrial policies for convergence within the European Monetary Union

The Eurozone faces two great challenges: a structural core-periphery divide, which resulted in the deepest economic crisis since the war, and several significant societal problems. To restore sustainable growth, EU policies must address both: tackle the fragility of the
periphery’s industrial base, reducing the divergences in industrial capabilities, and create a new agenda for innovation and growth. The
following sections argue that this calls for a policy combining support for demand with industrial policies tailored to the specific needs of

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