Industrial policy and innovative transformation of national economy

Abstract

In order to assess the legitimacy, usefulness, and scale of the industrial policy pursued by the world’s leading countries, a more precise understanding of the content, subjects, objects, main tasks, directions, mechanisms for the development and implementation of industrial policy, and its qualitative resource content is necessary.The author of this article defines the object of industrial policy. He points out that different point of view on this issue is expressed by experts, including the denial of a particular industrial object since industrial transformation under modern conditions undergoes all components of the national economy, all spheres of human activity. This argument is justified and confirmed by practice. But everything that is connected with the innovative industrial renewal of all components of the economic system, all spheres of human activity, is reproduced mainly in the industrial sphere, consisting of a set of interconnected industries interacting through a complex network of reproductive processes. This is confirmed by interbranch grocery balances. Industrial policy is naturally concerned with the promotion of industrial products and services in all components of the economy and the sphere of human life. But these components and spheres are not objects of industrial policy.The analysis of the activities of the international development institutions of the OECD and UNIDO shows that they consider industrial policy in national economies primarily as the state’s actions to improve the business environment, to change the structure of the economy, to update priority sectors, activities that promote high-quality economic growth and change well-being of people.