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Role of Local Government in Fostering the Development of Emerging Industry: A Market-oriented Policy Perspective

Journal article
Authors Jun Jin
Maureen McKelvey
Ying Dong
Published in Frontiers of Engineering Management
Pages 17
ISSN 2095-7513
Publication year 2020
Published at Department of Economy and Society, Innovation and Entrepreneurship (IIE)
Pages 17
Language en
Links https://www.springer.com/journal/42...
Keywords market demand, local government, new energy vehicles, China
Subject categories Other Engineering and Technologies, Other Social Sciences, Economics and Business

Abstract

This research investigates the role of local governments in stimulating an emerging industry and focuses on the specific growth of the new energy vehicle industry in the Chinese city of Hangzhou. This research confirms that enabling firms to access emerging technology, acquire financial support, and touch customers and/or supplies are critical to foster the emergence and development of industries. Moreover, the primary contribution of this study is to emphasize the support of the local government in the development of emerging industries on the perspective of the creation of a large-scale market demand. The large-scale creation of a market may inspire actors to be proactive in responding to these incentives; thus, public and private actions may help increase the accessibility to technology, infrastructure, and finances. Hence, a market-oriented policy that incentivizes the creation and expansion of market demand among diverse public and private actors should be seen as the key issue for the emergence and growth of emerging industries. Policies should also be adopted promptly with the development of the market

Page Manager: Webmaster|Last update: 9/11/2012
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