Authors: S.A. Zhironkin, K.A. Kolotov

Title of the article: Political economic and institutional approaches to the analysis of structural changes in the economy

Year: 2021, Issue: 1, Pages: 7-19

Branch of knowledge: 08.00.01 Economic Theory

Index UDK: 334.4

DOI: 10.26730/2587-5574-2021-1-7-19

Abstract: Learning lessons from past and current structural shifts in the economies of Russia and foreign countries, caused by socio-political transformations, technological breakthroughs, pandemic shocks, requires the formation of an integrated approach to the analysis of their causes, combining the reproductive dimension with the institutional one. This is important for the implementation of structural, macrostabilization and social policies to be carried out in a coordinated and purposeful manner. In political economic terms, such coordination means a gradual convergence of the goals of the development of high-tech industries and employment, reducing the gaps in the distribution of factor income; in reproduction – high rates of involvement of scientific and technological progress and development of human capital, reduction of sectoral gaps in productivity, growth of energy and environmental efficiency. From an institutional point of view, structural changes mean that changes in the institutional structure should be sources of sustainable economic growth. This is facilitated by building knowledge in coordination with investment in human capital. Ultimately, the institutional aspect is associated with the implementation of economic interests by various actors and their aggregations. These interests, largely due to changes in sectoral and sectoral proportions, themselves have a decisive impact on the structure of the national economy.

Key words: structure of the economy structural changes political economy institutional economics

Receiving date: 18.11.2020

Publication date: 15.05.2021

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