Industrial market: The semantic positioning and theoretical foundation

Natalya Yu. Yaroshevich
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Natalya Yu. Yaroshevich: Ural State University of Economics, Ekaterinburg, Russia

Journal of New Economy, 2022, vol. 22, issue 4, 156-172

Abstract: The ongoing economic downturn along with the evolutionary transformation of interindustry interaction and coordination mechanisms, processes and principles of creating added value drive the need to study such economic concept as industrial market. Today neither the sci entific literature and nor various regulations and state development programmes offer a stable definition to this term. The presence of a large number of synonymous terms does not eliminate the problem of proper identification of industrial market as an object of research and manage ment and distorts both the research findings and justification of the choice of a strategic man agement object at the intersectoral level while designing and implementing comprehensive eco nomic policies. The paper aims to develop the appropriate research programme for the concept “industrial market” in economic science. The methodological basis of the study consists of neo classical, neo-institutional theories, economic sociology, management theories, and the systems approach. The research employs the methods of semantic and bibliometric content analysis, formalisation and systematisation. Based on the new research programme for industrial market, the paper highlights its basic characteristics: integrity and autonomy, technological principle of combination, hierarchical structure, comparability of participants. The authors propose inter preting industrial market as a hierarchical form of a commodity market shaped under the influ ence of technological factors and institutional comparability within an industrial value chain of products and services. The results of the study can be applied for formulating strategic develop ment programmes for inter-industry structures as well as industrial and innovation policies.

Keywords: industrial market; industry; industrial complex; semantics; bibliometric analysis; research program; strategy (search for similar items in EconPapers)
JEL-codes: L60 L69 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:url:izvest:v:22:y:2021:i:4:p:156-172

DOI: 10.29141/2658-5081-2021-22-4-9

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