TY - JOUR

T1 - Investment Dynamics As a Factor of Transformation of the Russian Economy

AU - Alekseev, A. V.

AU - Kuznetsova, N. N.

PY - 2019/9/1

Y1 - 2019/9/1

N2 - The dynamics of long-term investment by primary economic activities is considered in general and in detail by manufacturing. Russian and American investment programs are compared in terms of gross and specific indicators. The quality of economic growth, as seen through the 2000s Russian investment pattern, mismatched the long-term goals of domestic economic development. In addition, the current phaseout of investment activity is largely an effect of the inadequate investment policy of those years. The existing institutional system orients the Russian economy toward building into the global pattern as a supplier of natural and partly agricultural resources, dooming manufacturing to stagnation at best. The authors prove that stimulation of industrial policy is fundamentally based on a state approach: investing with long-term strategic interests in mind and considering the potential of market relations (efficient resource management) would finally launch large-scale investment programs, providing conditions for the creation of a national innovative economy.

AB - The dynamics of long-term investment by primary economic activities is considered in general and in detail by manufacturing. Russian and American investment programs are compared in terms of gross and specific indicators. The quality of economic growth, as seen through the 2000s Russian investment pattern, mismatched the long-term goals of domestic economic development. In addition, the current phaseout of investment activity is largely an effect of the inadequate investment policy of those years. The existing institutional system orients the Russian economy toward building into the global pattern as a supplier of natural and partly agricultural resources, dooming manufacturing to stagnation at best. The authors prove that stimulation of industrial policy is fundamentally based on a state approach: investing with long-term strategic interests in mind and considering the potential of market relations (efficient resource management) would finally launch large-scale investment programs, providing conditions for the creation of a national innovative economy.

KW - extraction and manufacturing

KW - industrial policy

KW - institutions

KW - international comparisons

KW - investments

KW - quality of economic growth

KW - services

UR - http://www.scopus.com/inward/record.url?scp=85075363522&partnerID=8YFLogxK

U2 - 10.1134/S1019331619050010

DO - 10.1134/S1019331619050010

M3 - Article

AN - SCOPUS:85075363522

VL - 89

SP - 441

EP - 450

JO - Herald of the Russian Academy of Sciences

JF - Herald of the Russian Academy of Sciences

SN - 1019-3316

IS - 5

ER -