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Quantifying industrial strategies 2019-2022
- Trends and priorities across 11 OECD countries -
Industrial policy has resurfaced prominently in academic and policy discussions in the wake of major shocks and long-term trends. However, quantitative evidence on such policies remains limited. The OECD’s ＂Quantifying Industrial Strategies＂ (QuIS) project addresses this gap by gathering and harmonising publicly available data, based on a new methodology. This report summarises the recent developments of the industrial strategies for 11 countries (expanding to 20 in the next vintage) in terms of expenditures, priorities, and policy instruments for the period 2019-22, considering new policy targets compared with the previous vintage. The report finds that industrial policy support is sizeable and increased over time (from 1.40% of GDP to 1.53% of GDP in grants and tax expenditures), particularly for overall investment, the green transition and R&D; while energy cost support is important and mostly implemented through tax exemptions. The report also highlights evolving industrial policy priorities for some countries.
Industrial policy has resurfaced prominently in academic and policy discussions in the wake of major shocks and long-term trends. However, quantitative evidence on such policies remains limited. The OECD’s ＂Quantifying Industrial Strategies＂ (QuIS) project addresses this gap by gathering and harmonising publicly available data, based on a new methodology. This report summarises the recent developments of the industrial strategies for 11 countries (expanding to 20 in the next vintage) in terms of expenditures, priorities, and policy instruments for the period 2019-22, considering new policy targets compared with the previous vintage. The report finds that industrial policy support is sizeable and increased over time (from 1.40% of GDP to 1.53% of GDP in grants and tax expenditures), particularly for overall investment, the green transition and R&D; while energy cost support is important and mostly implemented through tax exemptions. The report also highlights evolving industrial policy priorities for some countries.
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