The rules of industrial policy and conditions of their implementation
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Abstract
The contemporary debate on industrial policy has been characterized by a contradiction in terms of concept of the policy, its merits, contents, and application. One can notice the growing diversity in contributors representing the followers or, on the contrary, the critics as far as the above-mentioned policy is concerned. In outlining the concept, instruments as well as hypothetical research approaches to this policy, the author of the article puts forward a clear thesis: industrial policy can turn out to be useful, nevertheless its effectiveness depends on what type of the policy and what economic conditions appear in practice. The analysis can be numbered among normative economics, dealing with the emerging economies at various development stages.(original abstract)
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References
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