Industrial policy and the WTO

This paper reviews the objectives and instruments of industrial policy in the context of a changing global environment and multilateral disciplines. We start with an analytical review of the justification for industrial policy to provide a benchmark against which objectives, instruments and outcomes can be measured. The focus then turns to the theoretical and applied aspects of industrial policy, followed by a survey of the extent to which WTO rules affect a member's ability to pursue industrial policy objectives and the possibilities and implications of revising these rules.