Management of industrial development of the country: theoretical aspects and tools

Elena Karpenko and Kristina Shestakova
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Elena Karpenko: Belarusian State University
Kristina Shestakova: Belarusian State University

University Economic Bulletin, 2021, issue 49, 81-87

Abstract: The relevance of the research topic is substantiated by the revival of the world community's interest in industry as a driver of economic development. The problem is that industrial development has a number of limitations as a result of imbalances between the resource potential of the economic system, its institutional structure and the dominant technical and economic paradigm, which require the development of special management tools. An analysis of recent publications shows the presence of scientific interest in the search for the relationship between the content of industrial policy, which serves as a tool for managing the country's industrial development, and the level of industrial and economic development in terms of creating certain economic conditions for its formation and implementation. However, the issues of scientific substantiation of the use of specific instruments of the country's economic policy for economic systems of various levels of industrial development are insufficiently studied. The purpose of the study is to determine and substantiate the factors of scientific and technical, foreign economic, financial and monetary spheres, influencing which it is possible to manage the industrial development of the country through the formation of a favorable environment for the implementation of industrial policy. The research methods used in the work are comparison, grouping, correlation-regression analysis, econometric modeling, systematic approach. Results of work. Within the framework of this study, on the basis of the constructed econometric models, the factors of foreign economic, scientific, technical and monetary policy were identified, which form favorable conditions for the implementation of industrial policy. The factors were differentiated for countries with different levels of industrial development. The field of application of the research results is the state policy aimed at stimulating industrial development. Conclusions. The work establishes the priority influence of monetary policy factors at a degree of industrialization from 0 to 1; monetary and scientific and technical policy with a degree of industrialization from 1 to 15; factors of all types are important if the degree of industrialization is higher than 15. Taking into account the above factors when developing the content of the national industrial policy will contribute to: achieving the goals in the field of industrial development, reducing the risks of negative effects from government intervention in industrial production, predicting the consequences of adopting certain economic solutions.

Keywords: industrialization; industrial development; industrial policy; degree of industrialization (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:aff:colart:y:2021:i:49:p:81-87

DOI: 10.31470/2306-546X-2021-49-81-87

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