Soft budget constraints and regional industrial policy: reinterpreting the rise and fall of DeLorean
重新审视德洛雷安汽车公司的兴衰，指出传统解释（个人缺陷或产业政策局限）不充分，通过制度分析和档案资料揭示合同低效、制度环境及政治因素（北爱尔兰冲突）如何导致软预算约束，对产业政策研究者有参考价值。
The rise and fall of De Lorean Motor Cars Limited (DMCL) has been traditionally interpreted as either the result either of John De Lorean's psychological flaws or as confirming the supposed limitations of activist industrial policy. However, when the episode is examined in greater historical detail, neither of these interpretations are compelling. The reinterpretation outlined here draws on institutional analysis as well as a range of archival sources, much of it previously unreleased. The inefficiencies within the original contractual agreement are highlighted. The lack of credibility associated with this agreement was in turn traceable to the institutional environment (with its associated risk-reward implications) under which industrial policy operated. This environment had a political element -it had been distorted by the Troubles and the resulting fears policymakers had of a cumulative causation relationship between violence and unemployment. Officials in Belfast, against Treasury opposition, advocated state-led entrepreneurship as a policy response.