Some argue, pointing to the success of East Asia, that government should select or target particular activities or firms. Others point to government failures, and argue that government interventions are meant to improve markets without favouring specific activities (Lall and Teubal, 1998), such as by setting standards and letting the private sector make the decision on how best to meet those standards. Yet, while standards are an important tool, they are unlikely, as discussed above, to be sufficient to spur innovation of green technologies to the extent necessary.