Unlike in the past where industrial policy was either focused on
creation and growth of state-owned firms or alternatively consisted
merely of broadly functional policies without consideration for firm or
entrepreneurial specifics, the requirement now is that future industrial
policy ought to be a nuanced partnership between entrepreneurs and the
state. In this paper we outline some considerations for such an
industrial policy where the entrepreneur-state nexus is paramount.
Moreover, we argue that such an industrial policy will need to take into
consideration that the entrepreneur-state nexus is evolving, and that it
depends on the stage of development of a particular country.
Keywords: entrepreneurship, industrialization, structural change, industrial policy, innovation, development
JEL codes: O32, L52, L53, M13