engleski

New features of the industrial policy

The goal of this paper is to analyze theoretical background about the importance and effectiveness of industrial policy. In an era of globalization, the features of industrial policy are re-evaluated again, especially after the economic and financial crisis of 2008-2009. There are different theoretical and empirical results backing pro and contra arguments. However, industrial policy is more important than ever. Industrial policy which enhances innovation as the main source of growth and development, collaboration on all levels and of all actors, that deals with scarce human resources, that enhances joining global supply chains, which focuses on specific activities, not the whole sectors or industries, that enhances smart specialization. That is the industrial policy that all countries, less and more developed need. But merely concluding that industrial policy is needed, and what it should be consisted of, is not enough. Effectively implemented industrial policy, with measurable achievements is of crucial importance. There is no universal solution of institutional design, it depends upon domestic conditions in every individual country, and still there are some preconditions that should be fulfilled: adequate government capacity, involvement of all actors, enabling triple helix system, transparency and accountability

industrial policy; international environment

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