Институциональные Детерминанты Промышленной Политики: Кластерный Анализ Стран Мир
Institutional Determinants Of Industrial Policy: World Country-Cluster Analysis

Summary/Abstract: Industrial policy plays a great role in modern strategies of economic development due to global challenges and increasing world competition. The goal of the paper is the determination of institutional factors of industrial policy implementation and groups of countries with the similar institutional environment using cluster analysis. The institutional determinants defining industrial development include cultural values (indulgence vs restraint, long-term orientation vs short-term orientation), prevalence of Putnam’s social groups, governance effectiveness and democracy regime, low level of corruption, efficient legislation, liberal base of economy, and high level of property rights protection. These determinants can be represented in 8 world indicators calculated by international organizations and G. Hofstede: 1) the level of society liberalization score; 2) society long-term orientation score; 3) Democracy Index; 4) Corruption Perception Index; 5) Property Rights Index; 6) Ease of Doing Business Rank; 7) Institutions index as a component of Global Index of Competitiveness; 8) Government Effectiveness (WGI). On the appropriate data of 76 countries of the world we obtained 9 clusters of countries with similar institutional parameters for industrial policy implementation. 2 groups contain highly developed countries; 4 groups contain predominantly transformation economies, and 3 groups consist of developing countries with low and low-middle income. As it turned out these countries have also similar macroeconomic indicators and some other institutional aspects like religion and trust in government. The distinction of countries on their institutional indicators is a base for development of the certain type of industrial policy (technological modernization, innovative, protectionism etc.), which is aimed on the dynamic industrial development.

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