INDUSTRIAL POLICY AS THE COMPONENT OF ECONOMIC POLICY

The purpose of this article is an attempt to place industrial policy into the frame of economic theory and its application in market and transitional economies. The authoress analyzes and defines the position of industrial policy within entire economic policy and points out the importance of measures and instruments of industrial policy in particular countries. First, the authoress studies industrial policy of the European Union which is remarkably important for all countries in transition which expect valid membership in the Union. Aspecial significance in the article is given to the analysis of industrial policy of East-Asian countries, the example of which should help East-European transitional countries in creationof successful economic and industrial policy. Conclusions of the authoress’s research based on critical query of industrial development and progress in highly industrialized countries relate to measures and recommendations of efficient industrial policy.