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Bulgaria, Latvia, Lithuania and Slovakia – Comparison of industrial transition models
Sofia, Bulgaria, 6-7 October 2008
Consultative Commission for Industrial Change, EESC
Industrial transition model
Case Slovakia
Jaroslav Vokoun
Economic transformation process in Slovakia
- dependency on the political cycle Development in 90’s
• creation of market economy
• splitting of Czechoslovakia
• imbalances (inflation, high interest rate, external imbalance,
unemployment etc.)
• weak reforms
• strong influence of domestic lobbies
• preference of domestic entrepreneurs in privatization –
„Slovak way“
• weak transparency
• weaker orientation to EU
Development after 1998
•
•
•
•
•
•
new government with new ideas
stabilization programs
clear orientation to EU, influence of EU
creation favorable business environment
starts reform process
recovery of bad debts in banks and banks privatization to
the foreign banks
• active support of FDI
• government sold the controlling interest in companies
Selected economic indicators
1992
Real GDP growth (%)
-6,5
Balance of export and
import (Bill. SKK)
1993
1998
1999
2004
2005
-3,7
3,7
0,3
5,4
6,1
-27,3
-89,5
-26,0
-27,2
-49,7
Inflation (%)
10,5
23,1
6,7
10,6
7,5
2,7
Unemployment (%)
10,4
14,4
15,6
19,2
13,1
11,4
Real wage index
1990=100
78,2
75,1
93,6
90,8
92,5
98,2
Source: Statistical office, 2006.
The evolution of industrial policy in 90’s
• slow changes in the Ministry of economy of the Slovak
Republic
• industrial policy was isolated part of economy policy
• direct support to the large noncompetitive companies
• protection of the strategic companies
• focus on privatization
The evolution of industrial policy after 1998
• new government changes policy and makes market
oriented reforms
• the standardization of the industrial policy: influence of a
Community action programme to strengthen the
competitiveness of European industry (96/413/EC) and
Industrial policy in an enlarged Europe (COM(2002) 714
final)
• gap between ideas and realization of industrial policy
(policy is more declarative)
• active support of FDI
Present targets of industrial policy
•
•
•
•
favorable business environment
knowledge transfer, R&D
education and skills
ICT
The example of a highly successful policy measure
• FDI support
• focus on automotive sector, electrical engineering,
services (logistic, call centers)
• support from EU structural funds
Positive results:
•
•
•
•
•
•
•
new corporate culture
technology transfer
employment
labour productivity
export
partial change of economy structure
pressure on education system
The example of a less successful policy measure
•
•
•
•
•
•
gap between ideas and realization of industrial policy
insufficient coordination among different policies
general support without focus strategy
support of non competitive firms
high portion of non-innovative firms in SME
national innovation system with a weak links among
participants
• low R&D expenditure
• strong metal and chemical industries with high energy
consumption and significant ecological influence
Summary innovation index and trends (2005)
Source: European Innovation Scoreboard, 2006.
Summary innovation index and trends (2007)
Source: European Innovation Scoreboard, 2008.
Innovation performance
Positive development:
 Applications
 Sales of new-to-market products
 Medium-tech/ high-tech manufacturing employment
Weaknesses:
 Knowledge creation
 Low business R&D expenditure
Thank you.
Ďakujem.