National Interests: Priorities and Security
 

Key priorities of the structural modernization policy in today's Russia

Vol. 14, Iss. 5, MAY 2018

Received: 10 January 2018

Received in revised form: 28 January 2018

Accepted: 20 February 2018

Available online: 15 May 2018

Subject Heading: ECONOMIC POLICY OF THE STATE

JEL Classification: O14, O25, O38

Pages: 897–912

https://doi.org/10.24891/ni.14.5.897

Slesarenko E.V. Kuzbass State Technical University named after T.F. Gorbatchev (KuzSTU), Kemerovo, Russian Federation
slekvlad@mail.ru

ORCID id: not available

Importance It is especially vital for Russia to improve the mechanism for adjusting the structure of the national economy. The existing structural disparity may cause the loss of economic, technological, political sovereignty and undermine social welfare. The issue is crucial for Russia as it is a cornerstone for its progressive and safe socio-economic development.
Objectives I formulate key principles and priorities of the strategy for structural modernization of the Russian economy through the consistent macroeconomic policy of the State pursuing the reindustrialization and technification of the national economy.
Methods The research is based on methods of comparative and statistical analysis.
Results The modern national economic system completely fails to drive the progressive and secure socio-economic development. The continuing profound deindustrialization, public differentiation make the government take decisive measures to ensure Russia’s socio-economic development. The structural modernization strategy draws upon such principles as an increasing role of the State as a driver of structural modernization, regulator of the mechanism for converting savings into investment, cross-sectoral floating of capital and promotion of responsible production and consumption.
Conclusions and Relevance Structural modernization of the Russian economy becomes feasible if the State acts as a regulator, thus respectively formulating principles and scope of its economic policy. The structural modernization policy is driven by the effective mechanism for intensive economic development through reindustrialization. Utilizing the inner potential and resources, national productive forces shall integrate high technology in their processes.

Keywords: structural modernization, State budgetary funds, national corporation, public-private partnership

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