Authors: S.A. Zhironkin, K.A. Kolotov, O.V. Zhironkina

Title of the article: Institutional traps and externalities of innovative neo-industrial import substitution

Year: 2017, Issue: 1, Pages: 4-16

Branch of knowledge: Economics and innovation management

Index UDK: 338.012

DOI: -

Abstract: Today in Russian economy the lack of investment resources for processing enter-prises, the stagnation of the real and financial sectors interactions are observed. In such circumstances, the initiation of the import substitution process depends on the state’s participation in the process; however, it occurs in the institutional vacuum with the absence of mechanisms to coordinate the interests of government and business, entities of manufacturing and raw material producing industries in their technological recovery and domestic market saturation. This article describes the institutional traps, preventing the release of Russian economy on the path of neo-industrial development using the market, technological and social potential of import substitution. The special attention in the article is paid to the negative externalities of the government import substitution policy which reinforce institutional traps. As a result of their structuring and analysis the set of conditions for exit from institutional traps and reducing externalities of neo-industrial import substitution was defined. The fulfilling of these conditions should help to overcome the catching character of import substitution in Russia. Primary conditions include the special institutional regime of neo-industrial import substitution, accelerated access to the institutional trajectory of its development, creation of a favorable institutional environment.

Key words: economy neoindustrialization import substitution institutions traps exter-nalities investment innovations competitiveness manufacturing scientific sector

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