Slaveski, Trajko and Lazarov, Darko (2017) Industrial policies in selected CEE countries: An overview. In: Second World Congress of Comparative Economics "1917 –2017: Revolution and Evolution in Economic Development", May, 2017, St. Peteresrburg. Russia. (Unpublished)
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Abstract
Contemporary debates about the role and the importance of industrial policy to promote economic growth and development have attracted the interest of policymakers around the world, especially during the period of the Global economic crisis.The experience and the effectiveness of industrial policy as a development tool differs significantly among countries and regions.The main argument of this statement is the story of successful emerging market economies (China, South Korea, Singapore, Malaysia) versus other unsuccessful developing countries. Or, if we compare some countries within the CEE transition countries (Slovenia, Slovakia, Hungary, Czech Republic versus some Western Balkan or FSU countries).The paper concludes that implementation of industrial policy, or the lack of it, could have a decisive role in the structural transformation of transition economies towards an optimal industry structure that fits specific historical, political, cultural, and economic circumstances in each of these counties, including their overall production capabilities. Hence, the paper gives some policy recommendations in a way that each individual country should engage in the process of self-discovery by identifying the industries and sectors where it might have latent comparative advantages and to promote structural transformation and export diversification in those industries by an active industrial policy. Moreover, countries should create sectoral policies towards attracting FDI as a way to accelerate the process of structural transformation, in particular policies that will aim to integrate domestic economy (firms) into MNC’s supply chains.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Darko Lazarov |
| Date Deposited: | 17 Jul 2017 11:02 |
| Last Modified: | 17 Jul 2017 11:02 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/18019 |
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