Industrial policy for economic development: to the problem of its justification from the standpoint of world experience and in the context of the need for use during the war period and post-war recovery in Ukraine

Abstract

Introduction. The priorities of the war period and the post-war recovery of Ukraine should be formed in view of the need to correct the shortcomings of the neoliberal economic policy that was carried out earlier and caused our country to significantly lag behind developed countries, the weakness and instability of the national economy in the face of the military aggression of the Russian Federation. Among such priorities should be the restoration and development of one's own industry on the basis of an appropriate industrial policy. At the same time, the need for this policy in government circles is still being questioned due to distorted perceptions about it, which do not take into account the positive experience of its application by developed countries to ensure their economic and technological leadership. Given this, Ukraine should change its attitude to industrial policy and learn the main lessons of its formation abroad in order to use them effectively. Purpose. To justify the importance of industrial policy for economic development from the standpoint of world experience in the formation of its content, models, contradictions in its application and in view of the need for its development and use in the wartime period and when it was restored in Ukraine after the war. Results. The main approaches to understanding the content of industrial policy, its tools and importance in economic development are highlighted. Types of industrial policy are considered from the point of view of selectivity of influence on subjects. The positive and negative experiences of the application of industrial policy by various countries are highlighted, attention is paid to the circumstances that determined its successes and failures. The possibilities of policy application are characterized from the point of view of the ratio of traditional market and government failures, the evolution of the transformation of models and policy tools under the prism of this ratio is shown, and a modern alternative view of the understanding of government failure based on the concept of the entrepreneurial state is presented. The importance of the institutional design of the country in ensuring the quality of the industrial policy is indicated, which removes the question of its impracticality and raises the question of what its content should be. Conclusions are made regarding the possibilities and conditions of applying in Ukraine the positive experience of the world practice of industrial policy in the context of ensuring the stability of the war economy and the prospects of the country's post-war recovery.

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