Industrial Policy is an important economic policy issue the roots of which go back to 18th century. However, except in few countries of East Asia, it has not been influential in academic and policy circles due to the dominance of mainstream economics and its reluctance to acknowledge positive outcomes of government interventions. This paper, through a brief comparison of major schools of economic theory, demonstrates that there are two distinct approaches - orthodox and heterodox - towards policies aimed at industrial development. The differences between the approaches are shown by comparing eight categories including firm theory, role of competition, role of market mechanism and others. Finally, a framework is presented where key issues in today’s industrial policy are discussed and their relevance to the current situation in Iran is reflected upon. ?
Izadkhah, R., & Razavi, M. R. (2013). Comparing Schools of Thoughts On Efficacy of Industrial Policies: A comparative Study. Journal of Science and Technology Policy, 6(3), 2-20.
MLA
Roohollah Izadkhah; Mohamad Reza Razavi. "Comparing Schools of Thoughts On Efficacy of Industrial Policies: A comparative Study". Journal of Science and Technology Policy, 6, 3, 2013, 2-20.
HARVARD
Izadkhah, R., Razavi, M. R. (2013). 'Comparing Schools of Thoughts On Efficacy of Industrial Policies: A comparative Study', Journal of Science and Technology Policy, 6(3), pp. 2-20.
VANCOUVER
Izadkhah, R., Razavi, M. R. Comparing Schools of Thoughts On Efficacy of Industrial Policies: A comparative Study. Journal of Science and Technology Policy, 2013; 6(3): 2-20.
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