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Regional Economics: Theory and Practice
 

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International practices in the industrial policy making

Vol. 20, Iss. 2, FEBRUARY 2020

Received: 24 September 2019

Received in revised form: 13 November 2019

Accepted: 28 November 2019

Available online: 14 February 2020

Subject Heading: SOCIOECONOMIC POLICY

JEL Classification: L52

Pages: 249–264

https://doi.org/10.24891/re.18.2.249

Starikov E.N. Ural State Forest Engineering University (USFEU), Yekaterinburg, Russian Federation
starik1705@yandex.ru

https://orcid.org/0000-0002-3465-7233

Ramenskaya L.A. Ural State University of Economics (USUE), Yekaterinburg, Russian Federation
ramen_lu@mail.ru

https://orcid.org/0000-0003-3884-4500

Subject This article considers the features of the modern period of industrial policy implementation in developed countries.
Objectives The article aims to analyze the best practice of using the tools of industrial policy of developed countries in order to determine lines and areas for development of the Russian industry.
Methods For the study, we used a statistical data analysis.
Results The article identifies the reasons for the resumption of debates concerning the role of industrial policy at the current stage of economic development and analyzes the institutions and tools of industrial policy of the United States, the European Union, China, Japan, and South Korea.
Conclusions Modern industrial policy is reaching a supranational level. The use of global best practices requires certain individual measures to adapt innovations in the national social and cultural environment to its distinguishing characteristics.

Keywords: industrial policy, Fourth Industrial Revolution

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