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(De)industrialization and lessons for industrial policy in Central and Eastern Europe

Over the past two and a half decades, the economic landscape of Central and Eastern European countries (CEECs) considerably changed. The demise of traditional industries and the rise of the service sector during the 1990s inclined economic structure towards deindustrialization. In years that followed, new industries emerged in many of these countries and brought them back on the route of reindustrialization. Across countries, this process developed at uneven pace. The recent rise of awareness about the importance of industrial development for the well-being of nations makes it relevant to investigate the sources behind changes in the economic structure of CEECs. Our findings reveal that reindustrialization takes place at uneven pace. No support was found for horizontal economy-wide industrial policies advocated within new classical economics. Strong impulse to reindustrialization comes through improvements in export sophistication. Such findings are in line with those on the position of CEECs in global value chains.

CEEC ; deindustrialization ; reindustrialization ; industrial policy

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