Importance The research examines the structural quality of economic growth in the Russian economy through an analysis of factors that determine the technological level of the economy and technological changes. Objectives The objective of the research is to illustrate capabilities of some technological changes and shifts of economic growth in Russia to new factors in commercial production. For this purpose, we formulate a number of structural models and perform a factor analysis of how technological factors influence the parameters of economic growth and industries. Methods For purposes of the research, we apply a correlation and regression analysis that helps us find a statistically significant correlation between relevant parameters. We also employ econometric models that demonstrate that growth can be evaluated through controlling parameters, including a technological factor. We take a structural aspect into account as we classify investment as old and new technologies. The article also presents our opinion on the general technological level of the Russian economy and calculations of the so called specific capital as Mihail Manoilescu puts it. Results Russia should increase the general technological level of its economic system focusing mainly on reasonable allocation of investment among old and new technological opportunities. It substantially clarifies the algorithm for setting up the national development priorities that the Russian authorities adhere to. In fact, we provide a theoretical underpinning and empirically verify that the old technologies should be qualified as one of the development priorities. If resources are assigned only to the new technologies, it will drastically aggravate a disparity in development of the Russian economic system, though it shall not mean a refusal to set up such priorities. Conclusions and Relevance The dynamics of investment in the old technologies has the principal effect on the pace of economic growth in Russia. We should note that investment in the new technologies is insignificant in terms of their amounts, without having an equal effect on the pace of economic growth. The quality of new economic growth will depend on institutional adjustments that determine how resources will be reallocated from the old technologies, and create a new resource of development. Spending on civilian sciences is the most important factor that shapes the new technologies.
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