The Transition in Eastern Europe: The Case for Industrial Policy

Michael Landesmann and Istvan Abel

Chapter 5 in The Transformation of the Communist Economies, 1995, pp 136-161 from Palgrave Macmillan

Abstract: Abstract Since the beginning of the dramatic recent wave of economic reforms in 1989, it has been difficult to hold a rational economic discussion about the specific role which industrial policy can play in the current context of the transformation in Eastern Europe. The notion of industrial policy was too highly charged with associations of past planning experiences in communist countries; hence it was seen as an anathema in any transition towards a Western-style market economy. In this atmosphere people overlooked the fact that industrial policies form an integral part of the set of policy instruments used in Western economies and that, more recently, economic theory has developed rigorous foundations for such policies. They also featured prominently in the experiences of countries which embarked upon successful catching-up processes.

Keywords: Market Economy; Industrial Policy; Structural Adjustment; Restructuring Process; Export Orientation (search for similar items in EconPapers)
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-23916-0_5

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DOI: 10.1007/978-1-349-23916-0_5

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