Same Same But Different? The Political Economy of Industrial Policy and Economic Development in a Fundamentally Changing World

Abstract

Industrial policy and state-led development strategies have regained prominence across the world, as governments respond to shifting global value chains, geopolitical fragmentation, technological change, and recent geoeconomic disruptions associated with the Trump administration. Despite the widespread use of similar policy instruments and reform agendas, development outcomes continue to vary markedly across countries, sectors, and periods. This persistent divergence raises fundamental questions about the political economy conditions under which industrial policy is formulated, implemented, and sustained. This panel invites papers that seek to explain variation in development outcomes by foregrounding political economy dynamics rather than policy design alone. We welcome contributions that analyse how power relations, elite configurations, state–business relations, firm-level political influence, and rent allocation shape the effectiveness of development strategies. Papers may examine the politics of implementation, coordination, enforcement, and learning, as well as how changing domestic and international contexts affect policy credibility and state capacity over time. The panel is open to a wide range of approaches, including qualitative country or sectoral case studies, comparative analyses, and cross-country empirical work. Submissions may engage with industrial policy, structural transformation, foreign investment, value chain integration, or related areas of economic development. Together, the panel aims to deepen understanding of why development strategies that appear similar in form can operate very differently in practice, and what this implies for theory, policy, and future research.

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