What are the three main types of industrial policy?
A) Import substitution, export-led growth, and clustering
B) Import substitution, export-led growth, and crowding out
C) Import substitution, government subsidy, and clustering
D) Market substitution, government subsidy, and crowding out

Question

Quizplus · Accepted Answer

The three main types of industrial policy are import substitution, export-led growth, and clustering. Import substitution policies focus on promoting domestic production of goods and services to reduce dependence on imports. Export-led growth policies aim to boost exports as a means of promoting economic growth. Clustering policies seek to promote the development of industrial clusters, which are groups of firms and related institutions that are located together and specialize in a particular industry or set of industries.

What Are the Three Main Types of Industrial Policy