Industrial Policy: Lessons from Shipbuilding

This article examines industrial policy through the historical and contemporary experience of the global shipbuilding industry. The authors analyze how governments have used subsidies, trade protection, financing support, and strategic investment policies to shape the competitiveness of domestic shipbuilding sectors. Drawing on evidence from East Asia and other major shipbuilding economies, the paper evaluates the effectiveness and unintended consequences of industrial policy interventions, highlighting lessons for current debates about strategic industries, global competition, and state-led economic development.