Blog post 243
BEYOND INDUSTRIAL POLICY
WHY EUROPE NEEDS A NEW GROWTH STRATEGY ?
Henrik Enderlein, Director du Jacques Delors Institut – Berlin, Elvire Fabry, Senior research fellow, Institut Jacques Delors – Paris, Lucas Guttenberg, Deputy director, Jacques Delors Institut – Berlin, Nils Redeker, Policy fellow, Jacques Delors Institut – Berlin recommande a new growth strategy for EU.
Industrial policy has become a major buzzword in European economic policy debates but, as it stands, the term means too many different things to too many people. It is also a misnomer for what Europe truly needs: a new growth strategy that redefines the role of the state in the economy, allows Europe to tackle the challenges of globalization, automation and digitalization and, at the same time, appreciates the fact that close economic partners increasingly question the norms of fair competition.
For such a strategy to be successful, it needs to stand on firm intellectual ground so that it does not run the risk of generating superficial solutions to poorly-defined problems. Solutions need to be future-oriented and compatible with the digital age or they will be dysfunctional. They also need to go beyond individual member states and be at least European or else they will be irrelevant. Furthermore, a new growth strategy should strengthen, not weaken global trade relations as well as Europe’s openness to the world.
An encompassing European growth strategy should therefore:
#1 ▪ Make substantial progress on the traditional Single Market agenda;
#2 ▪ remove obstacles for small European firms and start-ups to scale up;
#3 ▪ strive to set the global regulatory gold standard for technologies of the future;
#4 ▪ make progress towards an “Economic Schengen”;
#5 ▪ increase European public funds for innovation and gear its budget toward research as
well as making new technologies ready for the market;
#6 ▪ make the Capital Markets Union a reality to facilitate the private funding of innovation;
#7 ▪ defend open trade with new bi-and multilateral treaties;
#8 ▪ equip the EU with the necessary defensive measures to level the playing field in
global trade;
#9 ▪ refrain from politicizing competition policy, but use it more intelligently.
SUR LE MÊME THÈME
ON THE SAME THEME
PUBLICATIONS
Macro-economic impact of the EU Recovery Funds
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/autredocumentbleu.png)
EU industrial policy in the making
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/blogpostbleu.png)
An overhaul of the European fiscal framework?
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/decryptagebleu.png)
MÉDIAS
MEDIAS
L’Europe s’affirme sur le marché des puces électroniques
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/articlebleu.png)
Le retour de l’inflation en Europe : est-ce grave ?
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/podcastbleu.png)
A new, climate-innovation led industrial strategy for Europe
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/tribunebleu.png)
ÉVÉNEMENTS
EVENTS
Euroquestions #60 | How is Europe organised to fight inflation?
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)
Euroquestions 57 | Reforming the Stability and Growth Pact. Key challenges and opportunities for a revamped European fiscal framework
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)
Conference-debate: Can the European Union’s monetary policy prevent stagflation? [FR]
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)
Economic program of the PFUE : Exchange at the European Commission Representation in France [FR]
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)
Euroquestions | Stability and Growth Pact Reform : How to conciliate strengthening and public investments needs? [FR]
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)
Seminar | Heavy Industry and climate : the challenges of the transition [FR]
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)
Euroquestions | Inflation, a new risk for the European economy? [FR]
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)
Euroquestions | The Geopolitics behind the European Gas Shock
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)
ASEAN Resilience and European Strategic Autonomy: Converging Operational Concepts?
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)
EUROPEAN RECOVERY FUND: AN OPPORTUNITY FOR METROPOLITAN AREAS [ESP]
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)
A More Perfect Economic Union – A Transatlantic Tribute to Henrik Enderlein
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/interventionblanc.png)
WEBINAR | The day after the European Commission’s Post-Covid economic recovery proposal
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)
Webinar | Greener After – A Green Recovery Stimulus for a post-COVID-19 Europe
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)