The compass of development policy and value added
Critical analysis and new approaches
Abstract
This study critically analyses Péter Mihályi’s article published in the February 2026 issue of this journal and concludes that due to a misinterpretation of the concepts of value added and value chains, as well as the role of innovation, Mihályi erroneously questions the necessity of industrial and development policy. The author emphasizes the critical role of industrial policy in technological development, increasing value chain resilience, and economic catch-up. Furthermore, she addresses the complexity of the concept of innovation, highlighting that it is not synonymous with research and development. The study’s ultimate conclusion is that a more thorough presentation of international literature, data-driven analyses, and a more precise definition of theoretical frameworks are essential for continuing a professionally sound debate.
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