Abstract

The article analyses the essential components of the strategy of a catch-up growth. It is shown how much does mean a competent economic, especially industrial and foreign trade policy of the state. The author argues that, while having successfully managed the transition from a command economy to the mixed model, Russia stopped at the next-stage of development – the formulation and realization of an optimal strategy for a long-term modernization. Only in 2008 the government approved the Concept of country's development until 2020 in which the transition to the innovative model of development is advertised. However, it is likely that the due time for the establishment of an information and diversified economy is lost. We should expect a significant drop in world prices for oil and natural gas as result of the rapid development of gas production from shale and the transfer of cars on self-contained power supply. The country transition to the innovative way of development is hampered not only by the economic factors but also by the current political situation. All this does not promise quick success for implementation of a catch-up growth model in Russia.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.