The global financial crisis together with the experience of deindustrialization across Western Europe over the last three decades has brought to the fore both the issues of financial regulation and industrial policy in scholarship and policy debates. Industrial and finance policies have largely been discussed separately, in spite of their joint significance. This book advocates that the two need to be considered in tandem in both analysis and policy formulation that deals with the critical questions of how finance has intervened in industrial restructuring and how it might better serve the rea ... More

The global financial crisis together with the experience of deindustrialization across Western Europe over the last three decades has brought to the fore both the issues of financial regulation and industrial policy in scholarship and policy debates. Industrial and finance policies have largely been discussed separately, in spite of their joint significance. This book advocates that the two need to be considered in tandem in both analysis and policy formulation that deals with the critical questions of how finance has intervened in industrial restructuring and how it might better serve the real economy. This book brings together leading scholars to address some of these gaps in the conceptualization of finance and industrial policies with the aim of contributing to policy debates in three ways. First, by intervening in, and bringing together, current discussions of banking policy, regulation, and reform to reassert the need for financial institutions that will back up and finance an industrial policy to revive the European economy. Second, by reviewing the role of industrial and investment policies in supporting innovation, creating jobs, and generating sustainable economic growth. Third, by advancing alternative policy proposals aimed at generating sustainable economic growth and employment in Europe. The book is organized into two parts. Contributions to Part I analyse the nature of growth, industrial and economic restructuring in relation to finance in the lead up to the crisis. Part II presents alternative and progressive policy proposals for growth and employment in Europe in light of the analysis presented in Part I.