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Do Developed Economies Have a Chance to Restore Manufacturing Production?
[Mají rozvinuté ekonomiky šanci obnovit průmyslovou výrobu?]

Author

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  • Pavel Neumann

Abstract

The article deals with the issue of industry reallocation among the world's countries. Originally, the core of manufacturing production was situated in the most developed centres. After the 1970s, under globalisation and the impact of structural crises, part of production has moved to developing countries. The industries have been adjusted to new conditions in the developed countries and the share of industrial production has decreased considerably in favour of services. The article addresses the question whether a return of manufacturing production to developed countries is possible and which factors stimulate/inhibit the process. Finally, the desired effects of the potential reindustrialisation are mentioned (employment growth, technological progress, development of new industries, etc.) including the role of the state in their stimulation. Nevertheless, the author comes to the conclusion that despite the tendencies towards reindustrialisation described, the existing obstacles will not allow a mass return of industrial production to developed countries.

Suggested Citation

  • Pavel Neumann, 2014. "Do Developed Economies Have a Chance to Restore Manufacturing Production? [Mají rozvinuté ekonomiky šanci obnovit průmyslovou výrobu?]," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2014(2), pages 3-16.
    • Handle: RePEc:prg:jnlaop:v:2014:y:2014:i:2:id:428:p:3-16
    DOI: 10.18267/j.aop.428
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    References listed on IDEAS

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    1. Jonathan Temple, 2002. "The Assessment: The New Economy," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 18(3), pages 241-264.
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    More about this item

    Keywords

    industrial production; developed countries; developing countries; reindustrialisation; technological changes; employment;
    All these keywords.

    JEL classification:

    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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