UPRAVLJANJE INDUSTRIJSKOM TRANSFORMACIJOM: OBLIKOVANJE EKONOMIJA BUDUĆNOSTI
NAVIGATING THE INDUSTRIAL TRANSFORMATION: SHAPING THE FUTURE ECONOMIES

Author(s): Polona Domadenik Muren, Matjaž Koman, Tjaša Redek
Subject(s): Business Economy / Management, Economic policy, Economic development, EU-Approach / EU-Accession / EU-Development
Published by: Finrar d.o.o Banja Luka
Keywords: Development policy; industrial policies; USA; China; European Union;
Summary/Abstract: The formulation of adequate development policies is a challenge for their creators and those involved in implementation. At the end of the last century, it became obvious that increasing the GDP per capita, as a measure of prosperity, is no longer the only goal. A broader view was sought, including the environment, health and other determinants of human well-being as additional priorities. New approaches to industrial strategy emphasize the importance of decisions on accelerating growth and shaping the economy while monitoring social, ecological and health priorities, while the specificities of individual countries must be respected. The subject paper first analyzed the development of industrial policies as integral parts of the development policies of individual countries, in order to continue with the review of practices in the case of three holders of global power: the USA, China and the European Union. The industrial policies of developed countries show that approaches vary and depend on the specifics of each country and economic cycle. The principles of modern industrial policy focus on technological progress, export orientation, intense competition, accountability and a balance between state intervention and market signals.

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