engleski

Industrial policy and reindustrialisation in transition economies

Recent economic crises have changed mainstream economics a great deal regarding its view on industrial policy. Deindustrialisation was considered to be a normal path of economic development, and industrial policy was viewed with suspicion due to its theoretical incompatibleness with free markets. Today industrial policy is on every country’s agenda as a way of achieving economic growth. In line with that, serious questions are being raised about the desirability of the level of reindustrialisation modern economies are currently experiencing. This topic is even more important for transition economies in which deindustrialisation occurred at significantly lower levels of GDP. The aim of this paper is to analyse the existing literature on deindustrialisation of developed countries in order to ascertain the main determinants of that process. Based on that, we will try to give recommendations for industrial policies in transition countries.

deindustrialisation; industrial policy; literature review; reindustrialisation; transition countries

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