Research on the Differential Impacts of Selective Industrial Policy and Competitive Industrial Policy on Enterprise Innovation
Industrial policy, as an important means for governments to intervene in the market and promote industrial upgrading, is mainly divided into selective industrial policy and competitive industrial policy. The two types of policies have obvious differences in intervention logic, implementation methods and target orientations, which will inevitably lead to differential impacts on enterprise innovation. This paper uses 2018-2022 panel data of China’s A-share listed manufacturing firms to analyze how selective and competitive industrial policies differently affect corporate innovation, alongside moderating effects of firm scale and ownership. Selective policies boost innovation input insignificantly affecting output quality, while competitive policies improve both notably. The two policies exert disparate influences on state-owned, private, large and small firms. Relevant suggestions are proposed to optimize policy collocation and drive corporate innovation.
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