STRUCTURAL ECONOMIC CHANGES – DIFFERENCES IN THE APPROACHES

Abstract

The ability of an economy to adapt to changing economic conditions through the implementation of structural changes is linked to its ability to effectively generate economic growth. The need to know the intensity and direction of favourable structural changes is of key importance for achieving their high efficiency. In the article, a critical analysis of the different structural economic policies is made, taking into account the consequences of implementing the ones that are not in line with the real economic circumstances. Examples of so-called premature deindustrialisation as a result of inadequate structural policy are also considered. In conclusion, the vision of the role of the state in the conduct of a structural economic policy to achieve favourable economic results is presented.

Keywords

• economic efficiency
• comparative advantages
• structural policy
• premature deindustrialisation