{"title":"International economic law and the reinvention of industrial policy: Opportunities, limitations and risks","authors":"Matjaž Nahtigal","doi":"10.3233/hsm-230155","DOIUrl":null,"url":null,"abstract":"BACKGROUND: Many studies are focused on traditional (old) or modern (new) industrial policy. There are insufficient studies linking the emergence of the knowledge economy and the institutional requirements to underpin inclusive social and economic development in developed or developing countries. OBJECTIVE: This study aims to analyze the characteristics of the knowledge economy and the institutional requirements for more inclusive and sustainable socio-economic developments. Constraints of the international economic law in its current form for more inclusive and sustainable industrial policy in developed and developing countries will be put forward. The inclusive knowledge economy requires not only innovative advanced firms but also innovative and creative public sector employees capable of supporting and disseminating opportunities of the knowledge economy to the entire society. Moreover, the inclusive knowledge economy requires lifelong learning processes of the workforce in developed and developing economies. Therefore, a human dimension, broad participation, and shaping of modern development strategies a key to developing an inclusive and sustainable knowledge economy. Institutional constraints of the international economic framework are currently not adequately supportive of such a structural shift. The objective of this study is to show the possible adjustments at the international and national levels to support the development of an inclusive knowledge economy. The human dimension (participation, creativity, imagination) of the public and private sector goes hand in hand with institutional innovations. METHODS: The normative and institutional analysis, embedded in the historical context of industrialization patterns in the selected countries, will provide insights into the institutional requirements for an inclusive knowledge economy. RESULTS: The result of the conceptual and normative as well as empirical comparative analysis will provide insights into the possibilities and needs for institutional innovations at the regional, national, and supranational levels of polity while embracing the need for a more supportive international normative context. Several possible institutional innovations at the national levels, such as regional public venture funds, decentralized support, and training centers, are provided. A reform of the Agreement on Subsidies and Countervailing Measures to better delineate between potentially productive and harmful subsidies at the international level can be seen as a reform proposal at the international level. CONCLUSIONS: Industrial policies in developed and developing countries will not be able to address the social and economic divides between advanced and stagnating sectors of the economy without addressing the requirements for institutional innovations at all levels of the international polity.","PeriodicalId":13113,"journal":{"name":"Human systems management","volume":null,"pages":null},"PeriodicalIF":1.5000,"publicationDate":"2024-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Human systems management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.3233/hsm-230155","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"MANAGEMENT","Score":null,"Total":0}
引用次数: 0
Abstract
BACKGROUND: Many studies are focused on traditional (old) or modern (new) industrial policy. There are insufficient studies linking the emergence of the knowledge economy and the institutional requirements to underpin inclusive social and economic development in developed or developing countries. OBJECTIVE: This study aims to analyze the characteristics of the knowledge economy and the institutional requirements for more inclusive and sustainable socio-economic developments. Constraints of the international economic law in its current form for more inclusive and sustainable industrial policy in developed and developing countries will be put forward. The inclusive knowledge economy requires not only innovative advanced firms but also innovative and creative public sector employees capable of supporting and disseminating opportunities of the knowledge economy to the entire society. Moreover, the inclusive knowledge economy requires lifelong learning processes of the workforce in developed and developing economies. Therefore, a human dimension, broad participation, and shaping of modern development strategies a key to developing an inclusive and sustainable knowledge economy. Institutional constraints of the international economic framework are currently not adequately supportive of such a structural shift. The objective of this study is to show the possible adjustments at the international and national levels to support the development of an inclusive knowledge economy. The human dimension (participation, creativity, imagination) of the public and private sector goes hand in hand with institutional innovations. METHODS: The normative and institutional analysis, embedded in the historical context of industrialization patterns in the selected countries, will provide insights into the institutional requirements for an inclusive knowledge economy. RESULTS: The result of the conceptual and normative as well as empirical comparative analysis will provide insights into the possibilities and needs for institutional innovations at the regional, national, and supranational levels of polity while embracing the need for a more supportive international normative context. Several possible institutional innovations at the national levels, such as regional public venture funds, decentralized support, and training centers, are provided. A reform of the Agreement on Subsidies and Countervailing Measures to better delineate between potentially productive and harmful subsidies at the international level can be seen as a reform proposal at the international level. CONCLUSIONS: Industrial policies in developed and developing countries will not be able to address the social and economic divides between advanced and stagnating sectors of the economy without addressing the requirements for institutional innovations at all levels of the international polity.
期刊介绍:
Human Systems Management (HSM) is an interdisciplinary, international, refereed journal, offering applicable, scientific insight into reinventing business, civil-society and government organizations, through the sustainable development of high-technology processes and structures. Adhering to the highest civic, ethical and moral ideals, the journal promotes the emerging anthropocentric-sociocentric paradigm of societal human systems, rather than the pervasively mechanistic and organismic or medieval corporatism views of humankind’s recent past. Intentionality and scope Their management autonomy, capability, culture, mastery, processes, purposefulness, skills, structure and technology often determine which human organizations truly are societal systems, while others are not. HSM seeks to help transform human organizations into true societal systems, free of bureaucratic ills, along two essential, inseparable, yet complementary aspects of modern management: a) the management of societal human systems: the mastery, science and technology of management, including self management, striving for strategic, business and functional effectiveness, efficiency and productivity, through high quality and high technology, i.e., the capabilities and competences that only truly societal human systems create and use, and b) the societal human systems management: the enabling of human beings to form creative teams, communities and societies through autonomy, mastery and purposefulness, on both a personal and a collegial level, while catalyzing people’s creative, inventive and innovative potential, as people participate in corporate-, business- and functional-level decisions. Appreciably large is the gulf between the innovative ideas that world-class societal human systems create and use, and what some conventional business journals offer. The latter often pertain to already refuted practices, while outmoded business-school curricula reinforce this problematic situation.