Industrial Policy and Downstream Export Performance
利用钢铁产业政策的新数据库，发现产业政策对下游制造业的出口竞争力有显著负面影响，尤其在发展中国家。
Industrial policies (IPs) are commonly used by countries to promote targeted sectors but may have significant impacts on downstream sectors. Using a new hand‐collected database of steel‐sector IP use in major steel‐producing countries, I find that IP use is quite harmful to downstream sectors. A 1 standard deviation increase in steel IP presence leads to a 1.2% decline in export competitiveness for the average downstream manufacturing sector in the first few years of its application, and a 6% decline for downstream sectors that use steel most intensively. These results are largely driven by the less‐developed countries in my sample.