Mikhailov V.V.Plekhanov Russian University of Economics, Kemerovo Institute (Branch), Kemerovo, Russian Federation vladimir@oaoktk.ru
Subject The article considers problems and prospects for reindustrialization and a new economy formation, substantiates solutions from the perspective of systems and institutional approaches, analyzes the condition of institutions, potential sources of financial support and basic areas of the State policy of reindustrialization. Objectives The study aims to investigate production and consumption of energy resources in Russia and in the world, existing concepts and approaches to reindustrialization, and to underpin new approaches to reindustrialization and formation of a new economy in Russia. Methods The study rests on a dialectical approach, employs systems and institutional approaches and statistical methods. Results Despite the available significant natural resources, the economic performance of Russia is significantly lower than that of developed and developing countries. An increase in production of strategic resources against the backdrop of reducing global energy consumption does not provide for sustainable growth of the national economy. The lack of adequate financial and credit mechanisms causes unsatisfactory innovation activity of economic entities and the lowest level of productivity as compared with European countries. Conclusions The reindustrialization policy should take into account the specifics of regional development and be implemented with the participation of the State. Enhancing the efficiency of budget liquidity management and human capital development will contribute to the new economy formation in Russia and sustainable development of the State.
Keywords: reindustrialization, new economy, energy resources, innovation, budget deficit
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