Industrial policy now has broad World Bank approval but the case for universal adoption remains unclear
However, Gill warns in a recent blog on the World Bank website: “By itself, industrial policy has seldom been a game-changer: the record shows that, even under ideal conditions (emphasis added), it results in an average gain of just 1% of [gross domestic product]. Still, in an era of persistently sluggish growth, every option to boost growth ought to be considered.”
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