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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/26425
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| Title: | | Subsidizing national champions: an evolutionary perspective  |
| Authors: | | Aubert, Cécile Falck, Oliver Heblich, Stephan |
| Issue Date: | | 2008 |
| Series/Report no.: | | CESifo working paper 2380 |
| Abstract: | | A national-champions-related industrial policy has become (again) en vogue among European politicians. Against this background, our work orders different types of national champions along the industry lifecycle. Different types of locally bound externalities appear along the lifecycle. In a simple model, we show that it may be efficient to subsidize innovative firms in their early stages or to protect mature firms from competition to appropriate these externalities. However, non-benevolent politicians may not choose efficient policies. Real-world examples indicate that politicians tend to concentrate on externalities at the mature stage of the lifecycle. These externalities may be transitory or at the expense of foreign country consumers. |
| Subjects: | | National champions industrial policy industry lifecycle externalities |
| JEL: | | L52 O25 O33 P11 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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