Economists generally see industrial policy as a very broad concept incorporating a range of other mainly but not exclusively, economic policies as part of the industrial policy toolbox. Trade and competition policy are at least at a theoretical level firmly part of this. However in practice, in the cut and thrust of trade negotiations, and the legalese of merger filings this is often forgotten.
In this edition of the Monitor we feature a number of articles which remind us of the often profound implications which trade and competition policy can have for industrial development. In the article by Xavier Carim we are reminded of the underlying logic behind South Africa's (SA's) trade policy approach and its implications for industrial policy.