The Prospects for the Implementation of Industrial Policy in Countries in the Medium Term

Abstract:

The article analyses the priorities of the state industrial policy of various countries of the world in the global crisis. The purpose of the study was to analyse worldwide trends of industrial development and the rationale for the development of this direction in the future. To achieve this goal was identified the share of industry in GDP of leading world countries, analysed the volume of production in major industries. This allowed to prove that the problems in the economic sphere of some States to a large extent caused by the low level of industrial development. Was analyzed the dynamics of various global indices: Industrial Production Growth Rate, %, ISM Manufacturing Index, PMI Manufacturing Index, the commodity structure of exports and imports, the volume of foreign trade. For research were used official data from World Bank, World Factbook, UNIDO, EREPORT, Eurostat, the International auditing company PricewaterhouseCoopers (PwC), Rosstat, Central Bank of Russia, the Russian Centre for macroeconomic analysis and short-term forecasting. The research provided a forecast of the index of industrial production in 2016, and 2017, and forecast the ranking of countries in terms of GDP calculated at purchasing power parity (PPP) in constant prices of 2014, expressed in US dollars. The prediction results confirmed the author's hypothesis about the need for the development of industrial production in the long term to increase economic growth and achieve competitive advantages.Â