Paragraph 1
The industrial policy of a country, sometimes denoted IP, is its official strategic effort to encourage the development and growth of part of all of the manufacturing sector as well as other sectors of the economy.
一个国家的产业政策是其促进整体制造业以及其他经济行业发展和增长的官方策略性措施，产业政策有时用IP表示。
The government takes measures ‘’ aimed at improving the competitiveness and capabilities of domestic firms and promoting structural transformation.’’
国家政府采取这些措施“旨在提高国内企业的竞争力和能力，并同时促进结构转型。”
and 并且
A country’s infrastructure ( transportation, telecommunications and energy industry) is a major part of the manufacturing sector that often has a key role in IP.
一个国家的基础设施（包括交通运输，通信和能源等行业）是制造业的主要组成部分是制造业的主要组成部分，通常在IP发挥着关键的作用。
that 引导的从句，分开来说。
Paragraph 2（重中之重）
Industrial policies are sector-specific, unlike broader macroeconomic policies.
与更广泛的宏观经济政策不同，产业政策是针对各行业具体制定的（sector-specific)。
sector: 行业，领域
遇到unlike和compare with 提前
Examples of the latter, which are horizontal, economy wide policies, are tightening credit and taxing capital gains, while examples of industrial policy, which involves vertical, sector-specific, including protecting textiles from imports and subsidizing export industries.
宏观经济政策是横向的，适用于经济范围的政策，例如紧缩信贷和增收资本收益税，然而产业政策是纵向的，涉及对各行业的政策，例如保护纺织品免受进口商品的冲击和补贴出口产业。
latter: 宏观经济政策中（因为前面调动了顺序，所以直接写出来）
horizontal: 横向的
vertical: 纵向的
Industrial policies are interventional measures typical of mixed economy countries.
行业政策是混合经济国家的主张干预的标准方法。
产业政策是具有混合经济型国家典型特征的干涉主义措施。
measure：措施
Many types of industrial policies contain common elements with other types of interventionist practices such as trade policy and fiscal policy.
许多类型的产业政策包含了与其他类型的干涉主义措施相同的一些要素，其中包括类如贸易政策和财政政策。
with other types… 提前
An example of a typical industrial policy is import-substituion-industrialization(ISI), where trade barriers are temporarily imposed on some key sectors, such as manufacturing.
典型的产业政策一个例子是，就是进口替换工业化（ISI)，这种政策会暂时性地对如制造业等一些关键行业实施贸易壁垒。
By selectively protecting certain industries, these industries are given time to learn(learn by doing) and upgrade.
通过有选择性的保护特定行业，这些行业便有时间学习（通过实践中学习），和升级。
certain：特定，某些
把被动转成主动，翻译
Once competitive enough, these restrictions are lifted to expose the selected industries to the international market.
一旦具有足够的竞争力，这些限制就会解除，从而使这些行业面对国际性的市场。
lift: remove，解除
expose: 面对
Paragraph 3
One key question is which kinds of industrial policy are most effective in promoting economic development.
关键的问题是，哪种产业政策在促进经济发展最为有效。
Of particular relevance for developing countries are the conditions under which industrial policies may also contribute to poverty reduction, such as a focus on specific industries or the promotion of linkages between larger companies and smaller local enterprises.
对发展中国家而言尤其重要的是，在什么样的条件下，产业政策也可能有助于减少贫困。例如，专注于一些特定的行业，或促进规模较大公司和地方较小企业之间的联系。
倒装结构，认清主语