Journal of Economic Perspectives
ISSN 0895-3309 (Print) | ISSN 1944-7965 (Online)
Semiconductors and Modern Industrial Policy
Journal of Economic Perspectives
vol. 38,
no. 4, Fall 2024
(pp. 81–110)
(Complimentary)
Abstract
Semiconductors have emerged as a headline in the resurgence of modern industrial policy. This paper explores the political economic history of the sector, the changing nature of the semiconductor supply chain, and the new sources of concern that have motivated the most recent turn to government intervention. It also explores details of that turn to industrial policy by the United States, China, Japan, Europe, South Korea, and Taiwan. Modern industrial policy for semiconductors has included not only subsidies for manufacturing, but also new import tariffs, export controls, foreign investment screening, and antitrust actions.Citation
Bown, Chad P., and Dan Wang. 2024. "Semiconductors and Modern Industrial Policy." Journal of Economic Perspectives, 38 (4): 81–110. DOI: 10.1257/jep.38.4.81Additional Materials
JEL Classification
- F13 Trade Policy; International Trade Organizations
- F23 Multinational Firms; International Business
- L14 Transactional Relationships; Contracts and Reputation; Networks
- L22 Firm Organization and Market Structure
- L52 Industrial Policy; Sectoral Planning Methods
- L63 Microelectronics; Computers; Communications Equipment
- P23 Socialist Systems and Transitional Economies: Factor and Product Markets; Industry Studies; Population
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