Innovative-oriented neo-industrialization as an imperative to the development of the Russian economy

DOI

10.2991/sicni-18.2019.17How to use a DOI?

Keywords

In developed countries, the view prevails that industrial production is losing its central importance in the economic system, and it is being replaced by a rapidly growing tertiary sector. However, world practice shows that industrial production is currently the most efficient sector of the economy. Neo-industrialization is possible only under conditions of innovation implementation. The paper proves the fact that a share of cutting-edge knowledge embodied in technologies, equipment, personnel training, and manufacturing process management in developed countries makes up from 70 to 90% of GDP growth. Introduction of innovations has become a key factor of market competition giving progressive companies an opportunity to reach excess profits based on assignment of intellectual rent arisen by the monopoly usage of more advanced technologies. Nowadays, Russia faces a problem to form advanced engineering and manufacturing systems. At the same time, the Russian economy does not have an operating system of state stimulation of innovation development. The factors constraining the innovation-oriented development of industry in Russia are exposed thus: expensive energy resources, inefficient taxation system, insufficient money supply, unused human capital, quality of administration. The necessary measures which ensure the transition to a neo-industrial development with sustainable growth of the main indicators of national production and consumption have been identified.

Abstract

In developed countries, the view prevails that industrial production is losing its central importance in the economic system, and it is being replaced by a rapidly growing tertiary sector. However, world practice shows that industrial production is currently the most efficient sector of the economy. Neo-industrialization is possible only under conditions of innovation implementation. The paper proves the fact that a share of cutting-edge knowledge embodied in technologies, equipment, personnel training, and manufacturing process management in developed countries makes up from 70 to 90% of GDP growth. Introduction of innovations has become a key factor of market competition giving progressive companies an opportunity to reach excess profits based on assignment of intellectual rent arisen by the monopoly usage of more advanced technologies. Nowadays, Russia faces a problem to form advanced engineering and manufacturing systems. At the same time, the Russian economy does not have an operating system of state stimulation of innovation development. The factors constraining the innovation-oriented development of industry in Russia are exposed thus: expensive energy resources, inefficient taxation system, insufficient money supply, unused human capital, quality of administration. The necessary measures which ensure the transition to a neo-industrial development with sustainable growth of the main indicators of national production and consumption have been identified.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - I.V. Minakova
AU  - O.I. Solodukhina
AU  - T.N. Bukreeva
PY  - 2019/01
DA  - 2019/01
TI  - Innovative-oriented neo-industrialization as an imperative to the development of the Russian economy
BT  - Proceedings of the 2nd International Scientific conference on New Industrialization: Global, national, regional dimension (SICNI 2018)
PB  - Atlantis Press
SP  - 85
EP  - 88
SN  - 2352-5398
UR  - https://doi.org/10.2991/sicni-18.2019.17
DO  - 10.2991/sicni-18.2019.17
ID  - Minakova2019/01
ER  -