Industry policy for a productive Australia
Productivity Commission Chairman, Gary Banks, delivered the Colin Clark Memorial Lecture in Brisbane on 6 August 2008.
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The end of old-style industry (protection) policy
Our ageing infants
An old theory recycled
The broadening of Industry Policy
Industry assistance nevertheless remains substantial
New policy forces and influences
The innovation impetus
The greenhouse challenge
Ensuring a productive outcome
The ultimate objective must be economy-wide benefits
The 'materialist fallacy'
Other problematic pretexts
What policy rationales meet the economy-wide objective?
Innovation in perspective
Spillovers can inhibit R&D
A faster changing and more tangled web?
The environment-innovation interface
Ensuring a payoff: policy design and review are crucial
Some key design features
Properly reviewing the outcomes