New Approaches to Industrial Policy in the EC

Rapid changes in the international division of labour have made industrial policy again an important topic. This paper discusses the EC policies as defined in the Maastricht agreements and recent approaches to industrial policy. Because Austria's economy is closely linked to that of the EC these developments are also of great interest to Austrian policy makers. Moreover, Austria already now participates, with certain restrictions, in the European research and technology programs – programs that are likely to be the core of the EC's industrial policy in the future.