A cautionary tale of two ‘tigers’: industrial policy ‘lessons’ from Ireland and Hungary?

David Bailey; Helena Lenihan; Alex De Ruyter

doi:10.1177/0269094216677779

A cautionary tale of two ‘tigers’: industrial policy ‘lessons’ from Ireland and Hungary?

David Bailey, Helena Lenihan, Alex De Ruyter

Research output: Contribution to journal › Article › peer-review

2 Citations (Scopus)

Abstract

This paper draws industrial policy lessons for small Central and Eastern European states through a critical evaluation of recent Irish and Hungarian experiences. The paper outlines a ‘holistic view’ of industrial policy before exploring the experiences of the two economies. Whilst both have managed to ‘do’ policy well in some regards, substantial challenges remain in making FDI attraction the centrepiece of industrial policy, as has been highlighted recently. Overall, the paper suggests that wholesale emulation of the Irish and Hungarian approach is problematic for small open CEE states, and that more balanced approaches to development - and hence industrial policy – are warranted.

Original language	English
Pages (from-to)	873-891
Number of pages	19
Journal	Local Economy
Volume	31
Issue number	8
Early online date	15 Nov 2016
DOIs	https://doi.org/10.1177/0269094216677779
Publication status	Published - 1 Dec 2016

Bibliographical note

Funding: EU Horizon 2020 project MAKERS – Smart Manufacturing for EU growth and prosperity, a project funded by the Horizon 2020 Research and Innovation Staff Exchange Programme, under the Marie Sklodowska-Curie Actions (691192).

Keywords

Central and Eastern Europe
hungary
industrial policy
Ireland
foreign direct investment
policy evaluation

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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Cite this

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title = "A cautionary tale of two {\textquoteleft}tigers{\textquoteright}: industrial policy {\textquoteleft}lessons{\textquoteright} from Ireland and Hungary?",

abstract = "This paper draws industrial policy lessons for small Central and Eastern European states through a critical evaluation of recent Irish and Hungarian experiences. The paper outlines a {\textquoteleft}holistic view{\textquoteright} of industrial policy before exploring the experiences of the two economies. Whilst both have managed to {\textquoteleft}do{\textquoteright} policy well in some regards, substantial challenges remain in making FDI attraction the centrepiece of industrial policy, as has been highlighted recently. Overall, the paper suggests that wholesale emulation of the Irish and Hungarian approach is problematic for small open CEE states, and that more balanced approaches to development - and hence industrial policy – are warranted.",

keywords = "Central and Eastern Europe, hungary, industrial policy, Ireland, foreign direct investment, policy evaluation",

author = "David Bailey and Helena Lenihan and {De Ruyter}, Alex",

note = "Funding: EU Horizon 2020 project MAKERS – Smart Manufacturing for EU growth and prosperity, a project funded by the Horizon 2020 Research and Innovation Staff Exchange Programme, under the Marie Sklodowska-Curie Actions (691192).",

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AU - De Ruyter, Alex

N1 - Funding: EU Horizon 2020 project MAKERS – Smart Manufacturing for EU growth and prosperity, a project funded by the Horizon 2020 Research and Innovation Staff Exchange Programme, under the Marie Sklodowska-Curie Actions (691192).

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N2 - This paper draws industrial policy lessons for small Central and Eastern European states through a critical evaluation of recent Irish and Hungarian experiences. The paper outlines a ‘holistic view’ of industrial policy before exploring the experiences of the two economies. Whilst both have managed to ‘do’ policy well in some regards, substantial challenges remain in making FDI attraction the centrepiece of industrial policy, as has been highlighted recently. Overall, the paper suggests that wholesale emulation of the Irish and Hungarian approach is problematic for small open CEE states, and that more balanced approaches to development - and hence industrial policy – are warranted.

AB - This paper draws industrial policy lessons for small Central and Eastern European states through a critical evaluation of recent Irish and Hungarian experiences. The paper outlines a ‘holistic view’ of industrial policy before exploring the experiences of the two economies. Whilst both have managed to ‘do’ policy well in some regards, substantial challenges remain in making FDI attraction the centrepiece of industrial policy, as has been highlighted recently. Overall, the paper suggests that wholesale emulation of the Irish and Hungarian approach is problematic for small open CEE states, and that more balanced approaches to development - and hence industrial policy – are warranted.

KW - Central and Eastern Europe

KW - hungary

KW - industrial policy

KW - Ireland

KW - foreign direct investment

KW - policy evaluation

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JF - Local Economy

IS - 8

ER -

A cautionary tale of two ‘tigers’: industrial policy ‘lessons’ from Ireland and Hungary?

Abstract

Bibliographical note

Keywords

UN SDGs

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