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Author:

Natalya Yu. Yaroshevich, Ural State University of Economics, Ekaterinburg, Russia

Abstract:

The ongoing economic downturn along with the evolutionary transformation of inter-industry interaction and coordination mechanisms, processes and principles of creating added value drive the need to study such economic concept as industrial market. Today neither the scientific literature and nor various regulations and state development programmes offer a stable definition to this term. The presence of a large number of synonymous terms does not eliminate the problem of proper identification of industrial market as an object of research and management and distorts both the research findings and justification of the choice of a strategic management object at the intersectoral level while designing and implementing comprehensive economic policies. The paper aims to develop the appropriate research programme for the concept “industrial market” in economic science. The methodological basis of the study consists of neoclassical, neo-institutional theories, economic sociology, management theories, and the systems approach. The research employs the methods of semantic and bibliometric content analysis, formalisation and systematisation. Based on the new research programme for industrial market, the paper highlights its basic characteristics: integrity and autonomy, technological principle of combination, hierarchical structure, comparability of participants. The authors propose interpreting industrial market as a hierarchical form of a commodity market shaped under the influence of technological factors and institutional comparability within an industrial value chain of products and services. The results of the study can be applied for formulating strategic development programmes for inter-industry structures as well as industrial and innovation policies.

Keywords: industrial market; industry; industrial complex; semantics; bibliometric analysis; research program; strategy.

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For citation: Yaroshevich N. Yu. (2021). Industrial market: The semantic positioning and theoretical foundation. Journal of New Economy, vol. 22, no. 4, pp. 156–172. DOI: 10.29141/2658-5081-2021-22-4-9