Public risk, private reward: The distributional implications of industrial policy

2026

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This paper examines how governments can better capture returns from publicly-supported innovation to ensure a fairer distribution of economic gains.

* Analyzes the distributional implications of industrial policy, focusing on who benefits from government-funded innovation.
* Develops analytical frameworks for public support stages and value capture instruments.
* Presents case studies of Tesla and Moderna to illustrate different distributional outcomes and propose policy recommendations.

Tags: industrial policy, distributional implications, value capture, public investment, innovation risk

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