“…Nevertheless, the rise of the regulatory state has not led to the abandonment of all industrial policy efforts (Di Giulio, 2018;Prontera, 2017;Thatcher, 2014b). In fact, the supranational integration of formerly protected sectors, such as telecommunications and electricity, opens up new avenues of foreign investment for the most competitive national champions (Clifton, Diaz-Fuentes, & Revuelta, 2010;Jordana, Levi-Faur, & Puig, 2006).…”