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Towards Effective Industrial Policy in the Western Balkans

Author

Listed:
  • Branimir Jovanović

    (The Vienna Institute for International Economic Studies, wiiw)

  • Nina Vujanović

Abstract

Industrial policy has been largely overlooked in the Western Balkans for the past three decades. However, the region's economic struggles and the adoption of smart specialisation strategies have led to renewed interest in the topic. Promising industrial sectors in the Western Balkans include agri-food, textiles, automotive, energy, IT and tourism. The agri-food industry should aim for premium goods, the textile sector for high-quality final products, the automotive industry for advanced technologies, the energy sector for renewable energy, the tourism industry for unique alternative experiences and the IT industry for fostering greater innovation. The EU and Austria can play a valuable role in supporting the industrial policies of the Western Balkan countries. The EU can provide technical assistance and funding for the implementation of smart specialisation strategies. Austria can contribute its expertise to the development and implementation of specific industrial measures, promote the use of its social partnership model, and share its experience with the dual education system.

Suggested Citation

  • Branimir Jovanović & Nina Vujanović, 2023. "Towards Effective Industrial Policy in the Western Balkans," wiiw Policy Notes 66, The Vienna Institute for International Economic Studies, wiiw.
    • Handle: RePEc:wii:pnotes:pn:66
    as

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    File URL: https://wiiw.ac.at/towards-effective-industrial-policy-in-the-western-balkans-dlp-6493.pdf
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    References listed on IDEAS

    as
    1. Will Bartlett & Besnik Krasniqi & Jasmina Ahmetbasic, 2019. "Attracting FDI to the Western Balkans: Special Economic Zones and Smart Specialisation Strategies," Croatian Economic Survey, The Institute of Economics, Zagreb, vol. 21(2), pages 5-35, December.
    2. Vujanović, Nina & Radošević, Slavo & Stojčić, Nebojša & Hisarciklilar, Mehtap & Hashi, Iraj, 2022. "FDI spillover effects on innovation activities of knowledge using and knowledge creating firms: Evidence from an emerging economy," Technovation, Elsevier, vol. 118(C).
    3. Radosevic, Slavo & Yoruk, Esin, 2018. "Technology upgrading of middle income economies: A new approach and results," Technological Forecasting and Social Change, Elsevier, vol. 129(C), pages 56-75.
    4. Reda Cherif & Fuad Hasanov, 2019. "The Return of the Policy That Shall Not Be Named: Principles of Industrial Policy," IMF Working Papers 2019/074, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Industrial policy; Western Balkans; smart specialisation; development;
    All these keywords.

    JEL classification:

    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • L80 - Industrial Organization - - Industry Studies: Services - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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