A cautionary tale of two ‘tigers’: Industrial policy ‘lessons’ from Ireland and Hungary?

David Bailey, Helena Lenihan and Alex De Ruyter

Local Economy, 2016, vol. 31, issue 8, 873-891

Abstract: This paper draws industrial policy lessons for small Central and Eastern European states through a critical evaluation of recent Irish and Hungarian experiences. The paper outlines a ‘holistic view’ of industrial policy before exploring the experiences of the two economies. Whilst both have managed to ‘do’ policy well in some regards, substantial challenges remain in making foreign direct investment attraction the centrepiece of industrial policy, as has been highlighted recently. Overall, the paper suggests that wholesale emulation of the Irish and Hungarian approach is problematic for small open Central and Eastern Europe states, and that more balanced approaches to development – and hence industrial policy – are warranted.

Keywords: Central and Eastern Europe; Hungary; industrial policy; Ireland; foreign direct investment; policy evaluation (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:loceco:v:31:y:2016:i:8:p:873-891

DOI: 10.1177/0269094216677779

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