Schmidt's approach taps into a long tradition in comparative analyses of economic policy which have examined the different policy 'styles adopted in different countries: in particular,the extent of adoption of activist as against laissez-faire approaches to economic policy. this approach indicated how, in some nations, industrial policy decisions were left to business and the operations of market; and in other an interventionist industrial policy was adopted,which strategically targeted 'some firms and economic activities but not others through credit regulation, research support, targeted subsidies, and so on' (Heidenheimer etal.,1990:138).