Russian Journal of Economics and Law (Jun 2024)
Features of industrial policy implementation in the modern Russian economy
Abstract
Objective: in the modern economic system under globalization, effective industrial policy is one of the basic conditions for ensuring sustainable economic development in the context of multipolar economic systems formation and development. The tools of industrial policy implementation form the conditions for the advanced development of both national and regional economies. The study objective is to identify the key features of industrial development of the national economic system under globalization, as well as the basic tools for the effective industrial policy implementation in the Russian economy.Methods: when considering the features and factors of industrial development and the tools for the effective industrial policy implementation, we used such methods as system and historical analysis, comparison and identification of the key features of industrial policy implementation and transformation tools in the modern Russian economy.Results: based on the analysis of the world experience of industrial policy implementation along the main models of industrial development, the advantages and disadvantages of each respective model of industrial policy were determined; within the framework of the innovative model of industrial development, the indicators for assessing the effectiveness of industrial policy were systematized, as well as the peculiarities of the formation of the innovative environment of industrial development; the peculiarities of industrial policy implementation in the Russian economic system under globalization were revealed, the basic tools for the effective industrial policy implementation were structured.Scientific novelty: based on the analysis of industrial development processes and scientific approaches to industrial development and implementation of industrial policy, the peculiarities of using the industrial policy tools in the Russian economic system were revealed in the framework of combination and transformation of tools of innovative and importsubstituting models of industrial policy implementation; the contradiction was identified in the changing role of the state in the implementation of effective industrial policy in the modern economy under globalization (in recent decades, the trend of the weakening role of the state in developed economies is replaced by the need to strengthen the state to ensure effective innovation process and industrial development); the tools for the industrial policy implementation in the modern economic system were systematized based on the analysis of world experience.Practical significance: the results of the study of industrial policy tools in the modern economy, taking into account the regional aspect, can be used to establish mechanisms for the innovation process implementation and import substitution in the modern Russian economy based on the adjustment of the tools used and the industrial policy implementation methods, in order to form and implement the programs of sustainable industrial development at the federal and regional levels.
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