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Transition Economics meets New Structural Economics

Transition Economics meets New Structural Economics

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Transition Economics meets New Structural Economics

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  1. Transition Economics meets New Structural Economics Prof. Slavo Radosevic Concluding remarks to the workshop, London, 25/26. June 2013

  2. Context • Structural reforms and horizontal policies: old man • Big push and old style picking winners policies: straw man • New industrial policy/new structural economics/smart specialisation: new man

  3. Ideas, models and their limits • Ideas rule the world? • What about pre-mature ideas? We are in fertilisation period? Pre-paradigmatic stage? • Policy process and institutional context /fragmented or cohesive policy space/ non-market articulation of market/ important to final outcomes,but models still matter

  4. Neo-schumpeterian insight: policies should depend on distance of country from technology frontier • Maybe there is not one workable policy model? • Countries at technology frontier: RD push policies at frontier • Middle income countries: smart specialisation process • New structural economics: flying gees model / tandem growth/

  5. Issues for discussion • Structural reforms and business environment: how to continue along this policy line? How much mileage is there? • We are all structuralists now! Are we beyond transition economics? • Complementarities rather than substitutes? Ukraine as example

  6. So far, the policy focus in Ukraine has been on quadrants 1 and 2 i.e. on market enhancing governance reforms and on horizontal or generic innovation policy measuresPolicy choices for industrial upgrading Source: Radosevic Sl. (2013) Knowledge Generation and Absorption, Chapter 4 (extended author’s version) in preparation of ‘Ukraine: Innovation Performance Review 2012’, UNECE study, UN Economic Commission for Europe, Geneva