THE ECONOMIC EFFICIENCY OF MODERNIZING INDUSTRIAL SECTORS

This article analyzes the economic efficiency of industrial modernization in developing economies, with a particular focus on structural transformation, technological upgrading, and productivity growth. The study investigates how modernization impacts production costs, labor productivity, and overall competitiveness of enterprises. The paper highlights the methodological basis for evaluating modernization efficiency, incorporating indicators such as total factor productivity (TFP), return on investment (ROI), and cost-benefit ratios. It further presents empirical data and a comparative analysis of industrial sectors that have undergone technological renewal versus those relying on traditional production systems. Results reveal that the modernization of industrial sectors not only enhances economic output and employment quality but also strengthens value-added production and export potential. The findings underscore the importance of digital transformation, sustainable industrial policy, and innovation-led development in achieving long-term efficiency.

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