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What a Successful Industrial Policy Needs

Summary by Project Syndicate
New research on the importance of cross-border knowledge and technology spillovers suggests that government support alone cannot guarantee success in an industry. That is why Taiwan and South Korea's semiconductor industrial policies succeeded, while China's has not.

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Project SyndicateProject Syndicate

What a Successful Industrial Policy Needs

New research on the importance of cross-border knowledge and technology spillovers suggests that government support alone cannot guarantee success in an industry. That is why Taiwan and South Korea's semiconductor industrial policies succeeded, while China's has not.

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