The resurgence of industrial policy has been one of the most significant shifts in economic policymaking over the past decade. Once dismissed in many policy circles, state intervention in shaping markets and directing structural change has returned to the forefront—driven by overlapping crises, from financial instability and pandemic disruptions to climate change and geopolitical fragmentation.

This panel brings together leading scholars to examine what this renewed embrace of industrial policy means in practice. Are governments building long-term productive capabilities, or merely reacting to short-term shocks? How should industrial policy adapt to competing demands—resilience, sustainability, technological leadership, and inflation reduction—often under conditions of deep uncertainty?

Moderated by Amir Lebdioui, Associate Professor of the Political Economy of Development, and with opening remarks by Emily Jones, Professor of Practice in Public Policy, the panel will feature:

• Joseph Stiglitz, Associate Professor of the Political Economy of Development
• Xiaolan Fu, Professor of Technology and International Development, University of Oxford
• Ha-Joon Chang, Research Professor at the Department of Economics, SOAS University of London

The discussion will aim to move beyond rhetoric and assess what effective industrial policy looks like under real-world constraints.

The event is hosted in partnership with the Blavatnik School of Government and the Technology and Industrialisation for Development Centre.