Russian Journal of Economics and Law (Sep 2024)
From coordination to implementation: transformation of the industrial policy of the Union State of Russia and Belarus
Abstract
Objective: to study the evolution of the industrial policy of the Union State of Russia and Belarus from 1999 to 2024. Methods: analysis of strategic documents, statistical analysis of macroeconomic indicators and study of regional aspects of economic integration. We studied the statistics of joint ventures with Belarusian capital in Russia and with Russian capital in Belarus, which indicates the changing economic conditions in the Union State. Results: the industrial policy of the Union State is systematically developing and is aimed at deepening the economic integration of the two countries. It relies on the implementation of strategic agreements, planning and financing of joint scientific and technical programs. The study shows that despite the existence of strategic agreements, such as the 1999 Agreement on a Common Structural Industrial Policy and the 2023 Agreement on a Common Industrial Policy, a significantpart of the planned activities and projects has remained only partially implemented. The article elaborates on the key changes in the content of industrial policy, including increased emphasis on integration projects, import substitution and development of new types of competitive products. The study of the statistics of joint ventures with Belarusian capital in Russia and with Russian capital in Belarus points to changing economic conditions in the Union State. Since 2017, the number of joint ventures has been decreasing, which can be a consequence of both the reduction of barriers in international trade and economy and the decreased interest of enterprises in bilateral relations. The industrial policy of the Union State is currently aimed at overcoming dependence on the supply of foreign equipment and components, creating a common economic and scientific-technical space, financing and developing scientific-industrial cooperation based on union programs and projects. Scientific novelty: it consists in analyzing the evolution of the common industrial policy of the Union State for more than two decades. For the first time such a detailed analysis covered the whole period from the signing of the initial agreement in 1999 to the last intergovernmental agreement in 2023. This allows getting a holistic view of the development of approachesand transformation of the Union State industrial policy. Practical significance: for the first time, the study provides an insight into the dynamics of economic integration of the Russian and Belarus regions within the Union State through the statistics of joint Russian-Belarusian enterprises in the regions. This can be useful for researchers, business community and authorities to understand the processes of industrial policy impact on the real sector of the economy.
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