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Challenges of Industrial Policy to Enhance Competitiveness

Author

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  • Vlados, Charis

    (Democritus University of Thrace, Department of Economics)

  • Chatzinikolaou, Dimos

    (Democritus University of Thrace, Department of Economics)

Abstract

This study explores how the traditional approaches of perceiving competitiveness and industrial policy could be enriched through a synthetic and evolutionary perspective. Competitiveness, in particular, tends to be studied in the literature in a relatively fragmented way, focusing either on the level of individual nations, or on the sectors of economic activity, or on the firm level. As a result, the evolutionary structures that define competitiveness in a unified socioeconomic way are usually bypassed. In this context, the traditional approach to industrial policy-making, which has as sole objective the strengthening of specific sectors, is inadequate to enhance the multilevel socioeconomic competitiveness in our days. Therefore, we suggest a comprehensive re-positioning of the concept of "organic competitiveness" in overall and synthetic socioeconomic terms (firms-sectors-socioeconomic systems) as useful for a redirected modern industrial policy.

Suggested Citation

  • Vlados, Charis & Chatzinikolaou, Dimos, 2019. "Challenges of Industrial Policy to Enhance Competitiveness," DUTH Research Papers in Economics 11-2019, Democritus University of Thrace, Department of Economics.
  • Handle: RePEc:ris:duthrp:2019_011
    Note: Journal of Economics Library, 6(2), 83-96 (2019)
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    More about this item

    Keywords

    Competitiveness; Industrial policy; Evolutionary link between competitiveness and industrial policy; Globalization;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods

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