IDEAS home Printed from https://ideas.repec.org/a/ura/ecregj/v1y2019i1p13-28.html
   My bibliography  Save this article

Theoretical, Institutional and Ethical Basis for Implementing Modern Industrial Policy. Part I

Author

Listed:
  • Olga Romanova
  • Alena Ponomareva

    (Institute of Economics, Ural Branch of RAS)

Abstract

The article demonstrates the states growing responsibility in making management decision in the context of the world and national economies’ unstable development. Industrial policy is one of the key instruments for implementing managerial decisions. We identified the notions of industrial policy (in a broad sense) and structural policy. Further, we classified concepts of industrial policy according to the scale of regulation subject and the states role in economy. The appearance of a network aspect of industrial policy focused on the concept of digital state (e-state) was noted. 200 years of industrial policy’s evolution demonstrate its constantly growing obligation to be the guarantee of social welfare. Nevertheless, in Russia legal understanding of industrial policy does not include any aspects of social guarantees. Therefore, we analyzed industrial policy theoretical foundations showing the necessity for its reconstruction using a theory of new structural economics. We established premises and tools for the theory’s successful realization. Industrial Development Fund plays an important role in implementing industrial policy’s priorities as a variety of important programs including “Industry digitalization†are financed by this organization. On the level of regional economics, different regional funds are involved in the process of structural transformations.

Suggested Citation

  • Olga Romanova & Alena Ponomareva, 2019. "Theoretical, Institutional and Ethical Basis for Implementing Modern Industrial Policy. Part I," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(1), pages 13-28.
    • Handle: RePEc:ura:ecregj:v:1:y:2019:i:1:p:13-28
    as

    Download full text from publisher

    File URL: http://economyofregion.ru/Data/Issues/ER2019/March_2019/ERMarch2019_13_28.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Justin Yifu Lin, 2011. "New Structural Economics: A Framework for Rethinking Development," The World Bank Research Observer, World Bank, vol. 26(2), pages 193-221, August.
    2. Joseph E. Stiglitz & Justin Yifu Lin (ed.), 2013. "The Industrial Policy Revolution I," International Economic Association Series, Palgrave Macmillan, number 978-1-137-33517-3, June.
    3. Howard Pack & Kamal Saggi, 2006. "Is There a Case for Industrial Policy? A Critical Survey," The World Bank Research Observer, World Bank, vol. 21(2), pages 267-297.
    4. Pack, Howard & Saggi, Kamal, 2006. "The case for industrial policy : a critical survey," Policy Research Working Paper Series 3839, The World Bank.
    5. Geroski, P A, 1989. "European Industrial Policy and Industrial Policy in Europe," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 5(2), pages 20-36, Summer.
    6. Gual, Jordi & Jodar, Sandra, 2006. "Vertical industrial policy in the EU: an empirical analysis of the effectiveness of state aid," EIB Papers 10/2006, European Investment Bank, Economics Department.
    7. Rodrik, Dani, 2004. "Industrial Policy for the Twenty-First Century," CEPR Discussion Papers 4767, C.E.P.R. Discussion Papers.
    8. G. Kolodko., 2004. "Institutions, Policies and Growth," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 7.
    9. Joseph E. Stiglitz & Justin Yifu Lin & Célestin Monga, 2013. "Introduction: The Rejuvenation of Industrial Policy," International Economic Association Series, in: Joseph E. Stiglitz & Justin Yifu Lin (ed.), The Industrial Policy Revolution I, pages 1-15, Palgrave Macmillan.
    10. repec:bla:devpol:v:27:y:2009:i:5:p:483-502 is not listed on IDEAS
    11. G. Kolodko, 2004. "Institutions, Policies and Growth," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 7.
    12. A. M. Kalinin, 2018. "Evolution of Instruments of State Support of Industry in the Russian Federation: From Federal Target Programs to the State Program," Studies on Russian Economic Development, Springer, vol. 29(1), pages 28-34, January.
    13. Dani Rodrik, 2008. "Normalizing Industrial Policy," World Bank Publications - Books, The World Bank Group, number 28009.
    14. Ken Warwick, 2013. "Beyond Industrial Policy: Emerging Issues and New Trends," OECD Science, Technology and Industry Policy Papers 2, OECD Publishing.
    15. Grzegorz W. Kolodko, 2004. "Institutions, Policies and Growth," Rivista di Politica Economica, SIPI Spa, vol. 94(3), pages 45-79, May-June.
    16. Tolkachev, S., 2018. "Network Industrial Policy in the Age of the New Industrial Revolution," Journal of the New Economic Association, New Economic Association, vol. 39(3), pages 155-162.
    17. Kuznetsov, B. & Simachev, Yu., 2014. "Evolution of State Industrial Policy in Russia," Journal of the New Economic Association, New Economic Association, vol. 22(2), pages 152-178.
    18. Simachev, Y. & Kuzyk, M. & Pogrebnyak, E., 2018. "Federal Industrial Policy: Basic Models and Russian Practice," Journal of the New Economic Association, New Economic Association, vol. 39(3), pages 146-154.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Fahmida Mostafiz, 2024. "Industrial Policy and The New Structural Economics Theory: A Transitional Economy Perspective," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 14(6), pages 1-24.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Simachev, Y. & Kuzyk, M. & Pogrebnyak, E., 2018. "Federal Industrial Policy: Basic Models and Russian Practice," Journal of the New Economic Association, New Economic Association, vol. 39(3), pages 146-154.
    2. Olga A. Romanova, 2019. "Evolution of institutions for new industrial policy implementation," Upravlenets, Ural State University of Economics, vol. 10(3), pages 14-24, July.
    3. S. Sinelnikov-Murylev & A. Radygin & L. Freinkman & N. Glavatskaya (ed.), 2014. "RUSSIAN ECONOMY IN 2013 Trends and Outlooks (Issue 35)," Books, Gaidar Institute for Economic Policy, edition 1, volume 35, number 5, February.
    4. Annalisa Caloffi & Marco Mariani, 2018. "Regional policy mixes for enterprise and innovation: A fuzzy-set clustering approach," Environment and Planning C, , vol. 36(1), pages 28-46, February.
    5. Tilman Altenburg & Wilfried Lütkenhorst, 2015. "Industrial Policy in Developing Countries," Books, Edward Elgar Publishing, number 14726.
    6. Vu, Khuong M., 2018. "Embracing globalization to promote industrialization: Insights from the development of Singapore's petrochemicals industry," China Economic Review, Elsevier, vol. 48(C), pages 170-185.
    7. Constantino Hevia & Norman V. Loayza & Claudia Meza-Cuadra, 2023. "Industrial Policies vs Public Goods under Asymmetric Information," Revista Economía, Fondo Editorial - Pontificia Universidad Católica del Perú, vol. 46(91), pages 39-52.
    8. Yuri Simachev & Mikhail Kuzyk & Boris Kuznetsov & Evgeniy Pogrebnyak, 2014. "Russia on the path towards a new technology industrial policy: Exciting prospects and Fatal Traps," Foresight-Russia Форсайт, CyberLeninka;Федеральное государственное автономное образовательное учреждение высшего образования «Национальный исследовательский университет «Высшая школа экономики», vol. 8(4 (eng)), pages 6-23.
    9. Michiko Iizuka & Mulu Gebreeyesus, 2017. "Using Functions of Innovation Systems to Understand the Successful Emergence of Non-traditional Agricultural Export Industries in Developing Countries: Cases from Ethiopia and Chile," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 29(2), pages 384-403, April.
    10. Olga Romanova, 2018. "Industrial Policy Priorities of Russia in the Context of Challenges of the Fourth Industrial Revolution. Part 1," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(2), pages 420-432.
    11. Finbarr Livesey, 2012. "Rationales for Industrial Policy Based on Industry Maturity," Journal of Industry, Competition and Trade, Springer, vol. 12(3), pages 349-363, September.
    12. Roman Stöllinger & Mario Holzner, 2017. "State Aid and Export Competitiveness in the EU," Journal of Industry, Competition and Trade, Springer, vol. 17(2), pages 203-236, June.
    13. Karl Aiginger, 2007. "Industrial Policy: A Dying Breed or A Re-emerging Phoenix," Journal of Industry, Competition and Trade, Springer, vol. 7(3), pages 297-323, December.
    14. Lazzarini, Sergio G. & Musacchio, Aldo, 2010. "Leviathan as a Minority Shareholder: A Study of Equity Purchases by the Brazilian National Development Bank (BNDES), 1995-2003," Insper Working Papers wpe_221, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    15. Karl Aiginger & Susanne Bärenthaler-Sieber, 2009. "Industriepolitik in Österreich: von selektiver Intervention zu einem systemischen Ansatz?," WIFO Working Papers 337, WIFO.
    16. Herzog, Bodo, 2006. "Coordination of fiscal and monetary policy in CIS-countries: A theory of optimum fiscal area?," Research in International Business and Finance, Elsevier, vol. 20(2), pages 256-274, June.
    17. Shastitko, A., 2014. "Industrial and Competition Policy: from Theory to Practice of Interaction," Journal of the New Economic Association, New Economic Association, vol. 22(2), pages 205-209.
    18. Bernard Hoekman & Will Martin & Carlos A. Primo Braga, 2009. "Trade Preference Erosion : Measurement and Policy Response," World Bank Publications - Books, The World Bank Group, number 9437.
    19. Justin Yifu Lin, 2013. "New structural economics: the third wave of development thinking," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 27(2), pages 1-13, November.
    20. Çiğdem Börke Tunali & Jan Fidrmuc, 2015. "State Aid Policy in the European Union," Journal of Common Market Studies, Wiley Blackwell, vol. 53(5), pages 1143-1162, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ura:ecregj:v:1:y:2019:i:1:p:13-28. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alexey Naydenov (email available below). General contact details of provider: http://www.economyofregion.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.