To help explain the common failure of oil or other natural resource exporting countries to diversify into industry, it has been common to trace this failure to real exchange rate appreciation. This has also been done in Azerbaijan. However, because Azerbaijan has devoted so much of its oil...

The clusters and the poles of competitiveness favour exchanges between enterprises, universities, research centres and institutes in a concept of immediate proximity. The clusters and the poles of competitiveness must stimulate the urge for innovation, uphold the new national leaders in leading...

The present paper illustrates the role of industry in economic and social development of Romania, in the context of the propagated effects of the contemporary economic and financial crisis and mission that is in the recovery of gaps in relation to EU countries. The dynamic of the industrial...

Market failures provide a rationale for policy intervention. But policies are often hard to alter once in place. We argue that this inertia can result in well-intended policies having sizable negative long-run effects on aggregate output and productivity. In our theory, financial frictions...

The article deals with the problems of interaction between science and technology, innovation and industrial policy in Russia. In spite of the substantial intensification of the state policy in establishing of the new elements of the national innovation system, the coordination between different...

This paper discusses a possible case for industrial policy with special reference to the two emerging global giants, China and India. It begins with a clarification of the meaning of industrial policy, since not only does the term mean different things to different people, but the traditional...

After 30 years of restructuring, high economic growth and development, China could face the onset of the global economic crisis from a very favourable position: it was the third largest economy in the world, the second most important FDI destination, a leading manufacturer in many industries,...

Clusters are complex economic structures in which similar companies, their up-stream and down-stream business partners, universities, research institutes, educational units, various service providers, diverse private and public institutions concentrate geografically, striving to get economies of...

Purpose – The purpose of this paper is to examine changes in manufacturing agglomeration in a small open economy over the last decade. This is done during a time when manufacturing in most developed countries is in relative decline. Design/methodology/approach – This work adapts the...

This article highlights the contributions of business dynamics research to industrial policy design. Business creation support programs are widespread despite the fact that the optimal rate of business creation and destruction remains unknown. Economic analysis emphasizes heterogeneity as the...