The importance of implementing an appropriate industrial strategy in diversifying the economy : the case of the United Kingdom

Abstract EN

Industrialization and economic diversification are linked variables and economic diversification is achieved successfully through the implementation of the appropriate industrial strategy.

The study aims therefore to demonstrate the importance of focusing on the industrial sector in order to achieve economic diversification by demonstrating the importance of industrial strategy in embodying this diversification and by reviewing the United Kingdom's experience.

This study concluded that the industrial strategy is very important to the success of countries in diversifying their economies, and although the United Kingdom had successfully diversified its economy through the implementation of industrial strategies, the process of implementing industrial strategy and achieving the best results remained difficult due to the difficulty of designing an appropriate industrial strategy for an economy.

The study gave a set of recommendations.