Briefing paper

An industry policy for Queensland

2 Aug 2016

Many countries are pursuing innovation-led industry policies engaging in long-run strategic investments to create and shape industry trajectories rather than just responding to problems of industry decline. This has required public agencies to lead and direct the creation of new technological opportunities and innovations. The predictable response from bureaucrats and politicians steeped in economic liberalism (that industry policy is not an appropriate instrument of public policy) must face rebuttal as both economically ill-informed and unjustified by evidence. This paper provides an overview of the key issues exemplifying the development of industry policy in many of the advanced economies and draws an outline map of how they might be applied to the Queensland economy.

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