Download This PaperIndustrial Policy Under Conditions of EU Membership – the Case of Bulgaria
'Evolution of International Trading System: Prospects and Challenges', conference proceedings, St. Petersburg State University, October 2012, pp. 259 - 276
10 Pages Posted: 8 May 2020
Date Written: October 11, 2012
Abstract
In the European Union industrial policy is pursued at two levels – supranational and national. No matter that the EU has competence only to carry out actions to support, coordinate or supplement the actions of the Member States, it exerts a significant influence on their industrial policies. On one hand the EU has ample constraining powers on the policy space that the New Member States may use to foster economic catching up, but on the other hand it provides financial support through the Structural funds, fosters trade openness, increased flow of foreign direct investment, improved legal and institutional framework. Recognizing the importance of industrial competitiveness, the European Commission launched in 2010 an ambitious new industrial policy as part of the Europe 2020 strategy that gives a clear signal for more active industrial policies on a national level as well. The paper looks at the changes in the EU stance towards industrial policy and the challenges in front of the EU poorest Member State Bulgaria in its efforts to achieve structural transformation and technological upgrading of its economy.
Keywords: EU, Bulgaria, industrial policy, structural transformation
JEL Classification: O14, L52
Suggested Citation: Suggested Citation