Investment Dynamics As a Factor of Transformation of the Russian Economy
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The dynamics of long-term investment by primary economic activities is considered in general and in detail by manufacturing. Russian and American investment programs are compared in terms of gross and specific indicators. The quality of economic growth, as seen through the 2000s Russian investment pattern, mismatched the long-term goals of domestic economic development. In addition, the current phaseout of investment activity is largely an effect of the inadequate investment policy of those years. The existing institutional system orients the Russian economy toward building into the global pattern as a supplier of natural and partly agricultural resources, dooming manufacturing to stagnation at best. The authors prove that stimulation of industrial policy is fundamentally based on a state approach: investing with long-term strategic interests in mind and considering the potential of market relations (efficient resource management) would finally launch large-scale investment programs, providing conditions for the creation of a national innovative economy.
Keywords:investments extraction and manufacturing services quality of economic growth institutions industrial policy international comparisons
This paper was prepared within project XI.170.1.1. (0325-2019-0007) “Innovative and Ecological Aspects of the Structural Transformation of the Russian Economy amid a New Geopolitical Reality”, 2019 RAS SB IEIE research plan, state registration no. АААА-А17-117022250127-8.
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