Industrial policy

Industrial policy is the entirety of all government measures that are intended to specifically influence the structure and change of an economy. The goals can be in maintaining an industrial structure through legal measures, in financial aid or tax breaks. But also the active shaping of industrial sectors (industry) through the promotion of basic research, technology and innovations (for example Airbus Industry) are included.

Part of traditional industrial policy is the protection of domestic industrial sectors from foreign competition and the support of the export industry. State intervention is always seen as necessary when the market fails.

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Further explanations for the first letter "I"