Classification of conditions and factors of innovation and investment balanced industrial policy

Frolov V.G.¹, Kaminchenko D.I.¹
¹ Национальный исследовательский Нижегородский государственный университет им. Н.И. Лобачевского, Russia

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Journal paper

Journal of Economics, Entrepreneurship and Law ^{(РИНЦ, ВАК)}
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Volume 9, Number 4 (October-December 2019)

Citation:

Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=42471351
Cited: 4 by 24.01.2023

Abstract:
In modern conditions, the formation and implementation of industrial policy is conditioned by the strong influence of changing internal and external factors. The digital transformation of production is increasingly influencing the content and principles of industrial policy. New external challenges contribute to the revision of the goals, objectives and key elements of industrial development strategies. At the same time, significant internal imbalances in the economy have persisted for a number of years. The aim of the study is to identify and classify the conditions and factors of innovation and investment balanced industrial policy taking into account modern challenges. The paper uses a system approach, elements of SWOT analysis. As a result, the authors proposed the classification of conditions and factors of innovation and investment balanced industrial policy. The analysis of the main factors of effective and balanced industrial policy is conducted. The scientific novelty of the study lies in the fact that the authors develop and complete the classification of conditions and factors of industrial policy, taking into account new features, such as: the attribution of factors to one of the four systemic sectors of the economy (established by G. B. Kleiner) and in relation to the concept of sustainable development. New conditions and factors of digital transformation of the industry are also systematized. The obtained results can be useful for public authorities in the development of sectoral strategies for the industrial development.

Keywords: industrial policy, factors, digital economy, conditions, balance, Industry 4.0, digital transformation, digitalization

JEL-classification: O31, O33, O25, O32

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