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The Russian timber industry: problems of financing and prospects for modernization

Erznkyan B.A. Central Economics and Mathematics Institute, Russian Academy of Sciences, Moscow, Russian Federation (, )

Arutyunyan S.M. Yerevan, Republic of Armenia ( )

Journal: Economic Analysis: Theory and Practice, #4, 2017

Importance The article identifies primary development trends of the Russian timber industry and analyzes forest product and its exports structure.
Objectives The objective is to formulate proposals for the Russian timber industry modernization and innovative development based on the analysis of its trends and financial condition, considering the experience of developed countries and the Russian economy specifics.
Methods In the study, we applied methods of economic and financial analysis, expert assessment, analytical methods for information collection and processing.
Results Urgent problems impeding competitiveness of the Russian timber industry in the long term are highly-qualified personnel deficiency; underdeveloped domestic manufacture of advanced means of production, machinery and equipment; inadequate infrastructure; depleted stocks of affordable timber; low level of responsible forest management culture. High dependence on foreign equipment and components makes domestic producers extremely vulnerable.
Conclusions The timber industry needs modernization of production within the existing technologies and investment in innovative development. A fully integrated solution implies forming branch associations to coordinate the activities of enterprises to the extent of creating technological platforms and knowledge incubators; lobbying the sectoral interests in government agencies; synchronizing State programs to support the real sector through concessional lending; strengthening cooperation with local educational institutions.

The Russian fuel and energy complex at the threshold of the fourth industrial revolution

Erznkyan B.A. Central Economics and Mathematics Institute, Russian Academy of Sciences, Moscow, Russian Federation ( )

Arutyunyan S.M. Moscow, Russian Federation ( )

Journal: Economic Analysis: Theory and Practice, #5, 2018

Importance The article reviews the development prospects for the Russian fuel and energy complex, main trends in the global energy, and the key factors influenced the course of events, makes a comparative analysis of the latest long-term forecasts of the evolution of global energy consumption, considering the introduction of cutting-edge technologies.
Objectives The purpose of the study is to formulate priorities for the Russian fuel and energy sector based on the natural, climatic and economic peculiarities of the country.
Methods We employ methods of economic and statistical analysis, expert evaluation, as well as analytical methods for collecting and processing information.
Results A vital problem of the Russian energy sector is a low incentive for the renewable energy and alternative hydrocarbon fuel technologies development. In the long term, is fraught with technological backlog and imbalance in the energy system. Relatively low levels of industry diversification, efficiency and environmental compatibility of generation, transportation, storage and consumption of energy reduce the economic attractiveness and competitiveness of the entire energy system in the upcoming digital low-carbon economy.
Conclusions Efforts should be focused on the following areas: reducing the energy intensity of GDP and increasing the energy and economic efficiency of the energy sector; deepening the diversification of the country's fuel and energy balance; increasing the share of highly refined oil and petroleum products in the structure of exports; developing a network of LNG plants; intensive financing of R&D in the field of alternative energy with an emphasis on bioenergy, wind and fusion energy.

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