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Economic policy of modern Russia: modernization and reindustrialization


Government economic policy is designed to reflect the interests of society, its separate groups, firms, households and individuals in the development and strengthening of the national economy. It is an instrument of state regulation of the economy in order to stabilize and leverage existing socio-economic system to changing conditions. Implementation of its goals and objectives may change the economic system as a whole, its improvement or degradation and vice versa. In turn, the major changes in the economic system and, consequently, the formation of a new model of socio-economic development of society cause profound changes in economic policy. The new economic reality that emerged at the end of last and the beginning of this century, characterized by deep shocks of a plurality of such phenomena and processes of globalization, information, humanization, greening, the general transformation of existing economic systems, etc. The experience of two decades of liberal reforms in Russia, showed that in this period the country lost most of the once world's second largest scientific technical capacity and removed itself from the global high-tech market, and that the basis for economic development and growth are not “scholastic model of market equilibrium” and scientific and technical progress. The transition economy on an innovative path of development requires not just developed and updated with a modern industrial base machine and machine tools. To solve this problem needs an active industrial policy, dubbed reindustrialization.


Russian economic policy; reindustrialization; socio-economic development and modernization

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