Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/307732 
Authors: 
Year of Publication: 
2024
Series/Report no.: 
Policy Notes and Reports No. 89
Publisher: 
The Vienna Institute for International Economic Studies (wiiw), Vienna
Abstract: 
This essay suggests that there is a need for a Catalytic Industrial Policy (CIP) aimed at maximising positive outcomes on three axes at the same time - the green, the digital and the social - in order to speed up their realisation. Respective investments need to be guided in the desired directions, while ensuring that the benefits of CIP are widely shared, for instance through conditionalities. A bold CIP needs permanent monitoring, including through the use of relevant outcome indicators with pre-defined selection criteria. This essay provides a list of criteria and examples of outcome metrics. A key objective of such indicators would be to shed light on interdependencies. Also, it is important to look beyond those indicators that are already widely used at different levels of disaggregation and also beyond typical industrial policy examples. Alternative examples of indicators provided include, for example, trust in the national government, the operational stock of robots, and the area density of high- and low-voltage circuits in the transmission of electricity. A (perhaps unusual) CIP case could thus be a Europe-wide investment programme in high-quality, technologically sophisticated and sustainable (public) housing in support of the digital revolution, CO2 reduction and overcoming the housing crisis, thereby legitimising a tremendous ongoing structural change.
Subjects: 
industrial policy
ecological transformation
technological transformation
quality of life
democratic legitimation
structural change
JEL: 
D63
L16
L52
O13
O14
O15
O18
O25
O32
Document Type: 
Research Report

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