New Strategic Approaches to Gaining from Emerging Advanced Manufacturing Markets

Yuri Simachev, Anna Fedyunina (), Maksim Yurevich (), Mikhail Kuzyk () and Nikolai Gorodny ()
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Maksim Yurevich: Center for Industrial Policy Studies, National Research University Higher School of Economics
Mikhail Kuzyk: Center for Industrial Policy Studies, National Research University Higher School of Economics
Nikolai Gorodny: Center for Industrial Policy Studies, National Research University Higher School of Economics

Foresight and STI Governance (Foresight-Russia till No. 3/2015), 2021, vol. 15, issue 3, 6-21

Abstract: Advanced Manufacturing (AM) markets are a major factor of contemporary worldwide growth that to a large extent determines countries’ competitiveness. Strengthening and/or optimizing the positions on AM markets is among the major challenges for modern industrial policy. This article discusses the structure and dynamics of the development of advanced manufacturing markets, as well as the specifics of the policies of the countries strengthening their positions in these markets. Gaining entry into AM markets currently implies individual countries’ and industries’ adopting different models which combine a wide range of factors. Small nations are rapidly applying such approaches, gaining advantages and thus increasing their competitive edge, which creates certain challenges for leading high-tech countries too slow to adjust their industrial policies. So far the basis for Industry 4.0 markets is just emerging, and remains limited to a few nations including developing ones. Country cases are presented below to illustrate the development of AM markets. The authors conclude that in the current context, no universal approaches to shaping a successful industrial policy remain. The most productive strategy is to combine the unique advantages of a particular economy.

Keywords: advanced manufacturing; strategies; innovation; new technologies; biotechnology; Industry 4.0; international trade; industrial policy (search for similar items in EconPapers)
JEL-codes: F14 O25 O33 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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