At the end of the 20th century with stagnating industrial output, unemployment in many European countries has climbed to levels not seen since the 1930s. Interventionist industrial policies thus find new popularity after the gentle flirtation with liberalization in the early 1990s. Under the Maastricht Treaty, the European Union was granted industrial policy powers for the first time. The present study aims to contribute to an understanding of European industrial policy by introducing an historical perspective. National policy continuities and the considerable time over which industrial performance responds to changed environments emerge with greater clarity in the long run. The chapters in this book take a broad view of industrial policy, including those policies that establish the `framework', such as competition law, as well as sector for firm specific policies. The overall conclusion is that improved framework policies, such as liberalization and re-regulation, are still essential. Monetary union in the `core' will increase tensions arising from economic inflexibility. Although there are often strong political barriers blocking implementation of appropriate industrial policies, they will be even more necessary under monetary union.

well edited and thoughtfully designed volume ... this is a book that could and should be usefully consulted not only by students and teachers, but by politicans and their customers, the general public. * Alan S.Milward, Journal of Economic History *
this volume has two great merits: it provides a collection of case studies constructed along the same line of discussion themes, thus facilitating comparative analysis, and it offers a synthesis of a great deal of literature unavailable in English. Undoubtedly, the book has fulfilled its ask of rendering the future writing on the history of European industrial policy more manageable. * Francesca Fauri, EH.Net, April 2000. *

Dr James Foreman-Peck teaches economics and economic history at the University of Oxford and is Fellow of St Antony's College. He has previously been a practising economist in the electricity supply industry, has taught economics and economic history at the University of California, Davis, and has been a Professor of Economic History at the University of Hull. Professor Giovanni Federico teaches in the Department of Modern History, University of Pisa. He has previously been a Visiting Fellow of the European University Institute in Florence, and a Research Fellow of the Institute for Historical Research, University of London.