Industrial policies in agrarian economy

Abstract

Industrial policy is a significant element of successful agro-economic development considering that it integrates three highly important elements of development and growth - economy of scale, innovativeness and synergy -at a global level. As a complex and comprehensive activity it is oriented, by its nature, to structural regulation and promotion of competitiveness of the industry. Serbia does not have a clearly and consistently developed industrial policy, nor does it implement it in an effective manner. As such, it becomes a 'receptor' of industrial policies of others - developed countries. However, it could be said that, even with such an orientation, it is not very successful. Hence, this paper treats the global industrial policies issues, as well as policies of the successful countries such as China, USA, EU, and others whose experience Serbia could use as a paradigm. Furthermore, the paper comments the industrial policies of the countries of East Asia and countries in transition, as examples of a positive experience. Finally, it analyzes the situation in the industrial policy segment in Serbia within a historical context, indicates the constraints and offers the possible directions for their relativization.