A Paradigm Shift in Russia’s Industrial Policy: from a Raw Model to Innovative Technological Growth Points
In the contemporary environment of sanctions imposed against Russia by most western countries in 2014, we should pay attention to high-tech industries of the economy as a key source of import substitution on the domestic market. One of the important policy measures is to support the development of high-tech, innovative and technological sectors. The paper presents the need for the industrial policy based on differentiation and localization of innovative technological growth points. The analysis of foreign publications and research experience of the leading countries identifies the key ways of the new policy, which includes the preservation and modernization of technologies, the formation of a favourable investment climate, diversification of production, the development of innovation and human capital. The article highlights mechanisms and institutes to support a new industrial policy, in particular how to stimulate the innovative business within the innovative technological growth points.
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