Fiscal Strategies for the Development and Modernization of Industry

Keywords: Fiscal Policy , Industrial policy , Industrialization , Sustainable Development

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Authors:
  • Oana CHINDRIȘ-VĂSIOIU, Ph.D. SR III, Affiliation: Institute for World Economy, Romanian Academy, Romania;
  • Cristian PANĂ, Ph.D. Lecturer, Affiliation: Faculty of Financial Management, Ecological University of Bucharest, Romania;
Pages:  39 : 47
Abstract: The paper analyzes the role of fiscal policy as a key instrument in fostering economic growth and enhancing the competitiveness of the industrial sector. The study highlights the ways in which fiscal measures - such as tax incentives, exemptions, accelerated depreciation, and investment support - can contribute to the modernization of equipment, the digitalization of industrial processes, and job creation within industry. This research examines the impact of fiscal policies on the development and modernization of the industrial sector, with a particular focus on recent data. The analysis is grounded in the integration of national and international data sources, including those from the National Institute of Statistics, the OECD and Eurostat. The paper concludes with a set of policy recommendations aimed at promoting a sustainable and competitive industrial taxation framework: expanding fiscal incentives for digitalization, introducing super-deductions for green technologies, simplifying administrative procedures and aligning fiscal policy with vocational training initiatives.
JEL classification: E62, L52; O14

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E62, L52; O14