Title: How should governments support the emergence of new industries in leading economies?

Authors: Finbarr Livesey

Addresses: Cambridge Judge Business School, University of Cambridge, Trumpington Street, CB2 1AG, UK

Abstract: Over the past 30 years, developed economies' approaches to supporting growth have focused on competitiveness, entrepreneurship and innovation to varying degrees. However, following the credit crisis and global recession in 2008 there has been demand for an updated narrative of growth based on the emergence of new industries. This paper provides a brief review of the available literature on how governments in leading economies can support new industries to emerge to the benefit of their national economy, discusses a number of issues for governments trying to support emerging industries, provides a framework of activities which governments considering this type of intervention should consider, and discusses the case of the regenerative medicine industry in the UK using the framework.

Keywords: industry emergence; economic growth; public policy; government support; new industries; regenerative medicine industry; United Kingdom; UK; government intervention.

DOI: 10.1504/IJPP.2013.053436

International Journal of Public Policy, 2013 Vol.9 No.1/2, pp.108 - 130

Received: 22 May 2012
Accepted: 29 Sep 2012

Published online: 31 Jan 2014 *

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