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来源类型Reports and working papers
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From market-fixing to market-creating: a new framework for economic policy.
Mazzucato, Mariana
发表日期2015-09
出版者SPRU Working Paper Series
出版年2015
语种英语
摘要Many countries are pursuing innovation-led ‘smart’ growth, which requires certain types of long-run strategic investments. This paper argues that such investments require public policies that aim to create markets, rather than just ‘fixing’ market failures (or system failures). Such ‘mission-oriented’ investments have led to men walking on the moon (which created spillovers across the economy) and are today catalyzing investments to tackle climate change around the world. In the two above mentioned cases, public agencies not only ‘de-risked’ the private sector, but also led the way in terms of shaping and creating new technological opportunities and market landscapes. Only then was the private sector willing to invest. This paper considers four key questions that arise from a ‘market creating’ framework: (1) decision-making on the direction of change; (2) the nature of (public and private) organizations that can welcome the underlying uncertainty and discovery process; (3) the evaluation of mission oriented and market-creation policies; and (4) the ways in which both risks and rewards can be shared so that ‘smart’ innovation-led growth can also result in ‘inclusive’ growth.
特色分类H Social Sciences$HB Economic theory. Demography
URLhttp://sro.sussex.ac.uk/id/eprint/61970/
来源智库Science Policy Research Unit (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/468562
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GB/T 7714
Mazzucato, Mariana. From market-fixing to market-creating: a new framework for economic policy.. 2015.
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