Forming industrial policy instruments based on neorthodoxal economic schools ideas

Анотація

The purpose of the study is to analyze unorthodox economic ideas and theoretical approaches for choosing the tools of industrial policy of Ukraine. Appealing to unorthodox economic schools in the formation of industrial policy in modern conditions is important, since they allow us to adequately take into account the complexity, dynamism and unevenness of economic development, which goes beyond simplified market models and assumptions about rational agents. These schools emphasize the critical role of the state as an active agent of change, capable of directing investments, shaping technological trajectories, stimulating the development of strategic sectors and promoting structural diversification of the economy. Unorthodox schools also take into account the cumulative effects of learning, institutional dependence and the specifics of national economies. This allows us to develop policies focused on long-term development and sustainability of the economy. A generalized toolkit of industrial policy within the framework of unorthodox schools is presented. In the context of developing modern industrial policy, the policy mix approach appears as a logical and methodologically sound continuation of the unorthodox vision of economic policy, since it proceeds from the recognition of the complexity of economic systems, the interdependence of markets and technologies, and the presence of numerous coordination failures. Instead of relying on one “universal” tool or mechanism, the policy mix approach involves a conscious combination of regulatory, financial, industrial, innovation, social, and environmental instruments adapted to a specific stage of development and institutional environment. Such a combination of policies allows for the simultaneous consideration of multidimensional goals, the coordination of short-term macroeconomic incentives with long-term structural shifts, the support of technological learning processes, and the provision of flexibility and adaptability of industrial policy in conditions of dynamic, uneven, and uncertain trajectories of economic development. The key problems of the development of the industrial sector of Ukraine and the corresponding industrial policy tools, formed on the basis of unorthodox economic schools, are systematized. The structural, institutional and technological challenges faced by the Ukrainian economy cannot be effectively solved using universal market mechanisms or standardized political recipes. The presented approach allows you to connect abstract economic ideas with practical solutions in the field of industrial policy, focusing on restoring production potential, overcoming technological dependence and forming long-term prerequisites for sustainable development.

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