Editorial
Bai Gao, Emrah YıldızIndustrial policy has reoccupied the intellectual agenda in many countries since the 2008 global financial crisis. By highlighting the important role of the state in the economy, the global surge of industrial policy has presented a major challenge to neoliberalism and the Washington Consensus. In the heyday of globalization, neoliberalism used to prescribe market-driven strategies to developing countries. These days, however, not only have many developing countries reconsidered the alternative development models represented in Asian countries where states implement industrial policies to promote economic growth; under the pressure of increasing competition from China, even developed countries have begun to rethink the contribution the state should have in supporting the development of high-tech industries.
