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Published in:
2011 | OriginalPaper | Chapter
1. Infant Industry and Incentive Structures
Author : Srinivasan Sunderasan
Published in: Rational Exuberance for Renewable Energy
Publisher: Springer London
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Abstract
The infant industry argument has persisted through most of industrial era history in one form or the other. While in the mercantilist era, government intervention through subsidies, tariffs, quotas and other fiscal measures, and through non-tariff barriers to imports, has been justified by the face-off between the “developed” and the “developing” worlds, the virtual collapse of national borders and the consequent vertical-disintegration-of-production-processes has spawned new theories. The lines of reasoning have shifted to “mature industries versus emerging technology” or between the so called entrenched “old economy” sectors against the sunrise “new economy” sectors.