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A critical reflection on Irish industrial policy: a strategic choice approach
journal contribution
posted on 2017-03-01, 11:44 authored by David Bailey, HELENA LENIHANHELENA LENIHANThis paper offers a critical evaluation of recent Irish industrial policy (IP) experience. It argues that whilst Ireland managed to get some things ‘right’ through its IP, substantial tensions arose through making foreign direct investment (FDI) attraction the centrepiece of policy, without at the same time adopting a more holistic approach in IP which inter-alia also placed an emphasis on indigenous firms and entrepreneurship more generally. In particular, greater efforts should have been made much earlier in attempting to better embed transnational corporation (TNC)-led activity into the wider economy, in fostering domestic small firms and entrepreneurship, in promoting clusters, and more generally in evaluating IP more fully – notwithstanding the context which mitigated against such actions. As a result, Ireland as an economy remained vulnerable to strategic decisions made elsewhere by TNC decision-makers, with IP effectively contributing to a situation that can be characterised as institutional and strategic failure. Overall, the paper suggests that wholesale emulation of the Irish IP approach is problematic.
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Indternational Journal of the Economics of Business;22 (1), pp. 47-71Publisher
Taylor and FrancisNote
peer-reviewedRights
This is an Author's Original Manuscript of an article whose final and definitive form, the Version of Record, has been published in the International Journal of the Economics of Business 2015 copyright Taylor & Francis, available online at:http://dx.doi.org/10.1080/13571516.2014.993218Language
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