The Revival of Industrial Policies in the EU?

This article provides an in-depth analysis of the evolution and current state of industrial policies in the European Union (EU) from the 1980s to the present day. We specifically focus on the resurgence of interest in such policies from 2020. We argue that industrial policies in the EU during the second half of the 2020s and into the 2030s will differ significantly from previous decades, while acknowledging challenges in fully understanding their scope and implementation. In particular, it is argued that the lack of a meaningful EU fiscal capacity constitutes the biggest challenge for the design and implementation of effective industrial strategies, which risks exacerbating regional and national disparities in the dual transition.