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The Role of Interindustry Integration in Economic Growth: Theoretical and Strategic Implications

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  • Z. A. Mamed’yarov

    (Primakov Institute of World Economy and International Relations, Russian Academy of Sciences)

Abstract

This article is a continuation of the paper “The Uneven Development Paradox of the High-Tech Sector Amid Comparable Economic Growth in the EU and the United States” published in the previous issue of the journal, and it examines the theoretical and strategic implications of the previously obtained results. These results show that the role of integration of traditional industries in Europe is underestimated: economic growth is stimulated not only by (high-tech) industry specialization, but also by the integration of (traditional) industries. The data obtained are placed in the context of the theory of varieties of capitalism by Hall and Soskice. Particular attention is paid to the problem of high-tech development of the EU; it has been established that the high-tech industry of the EU produces products that are less attractive to traditional industries and consumers in the EU than abroad.

Suggested Citation

  • Z. A. Mamed’yarov, 2021. "The Role of Interindustry Integration in Economic Growth: Theoretical and Strategic Implications," Studies on Russian Economic Development, Springer, vol. 32(6), pages 656-661, November.
    • Handle: RePEc:spr:sorede:v:32:y:2021:i:6:d:10.1134_s1075700721060101
    DOI: 10.1134/S1075700721060101
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