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Economic Analysis: Theory and Practice
 

Assessing the readiness of the machine-building industry for the Fourth industrial revolution

Vol. 20, Iss. 5, MAY 2021

Received: 25 March 2021

Received in revised form: 10 April 2021

Accepted: 23 April 2021

Available online: 28 May 2021

Subject Heading: ANALYSIS OF INDUSTRIAL CAPITAL

JEL Classification: О12, Q01

Pages: 886–904

https://doi.org/10.24891/ea.20.5.886

Tamara N. RYZHIKOVA Bauman Moscow State Technical University (Bauman MSTU), Moscow, Russian Federation
tnr411@yandex.ru

ORCID id: not available

Vladislav G. BOROVSKII Bauman Moscow State Technical University (Bauman MSTU), Moscow, Russian Federation
vip@knb.su

ORCID id: not available

Zurab S. AGALAROV Sergo Ordzhonikidze Russian State University for Geological Prospecting (MGRI), Moscow, Russian Federation
z.agalarov@list.ru

ORCID id: not available

Subject. The paper explores the development of Russia's machine-building industry against the background of preconditions of the Fourth Industrial Revolution. We examine factors, influencing the development of the industry to formulate strategic decisions and implement policies to encourage further automation and digitalization.
Objectives. The aim is to scrutinize the condition of the machine-building industry and its problems, arising in the modern objective reality and in connection with the onset of the Fourth Industrial Revolution.
Methods. From the perspective of the systems theory of the economy, implemented in the RAS, we analyze the main aspects of the Fourth Industrial Revolution, the key factors that determine the willingness of countries and enterprises to enter a new objective reality.
Results. The paper considers the impact of existing factors on the industry development in the new environment and analyzes individual indicators of growth rate. It investigates the machine-building production and growth rates in Russia, worldwide, and in the European Union over the past seven years, as well as the impact of some deflators, like gross domestic product, industrial production index, fixed investment and inflation on the domestic machine-building industry development, reviews and analyzes leading enterprises.
Conclusions. We present the elements of conceptual approach to a technological economic model, which contribute to strengthening the production capacity of non-resource-based industries in the Russian economy.

Keywords: machine-tool industry, CNC machine, Fourth Industrial Revolution, world capitalism

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