Abstract

Structural adjustment is most often viewed by modern domestic economists as a means of reducing oil and gas dependence and increasing the security of the Russian economy. At the same time, a structuralist approach, which is based on the assumption that structural improvements can lead to economic growth, was developed abroad in the middle of the 20th century. However, the economic mainstream is dominated by the neoclassical approach, where capital, innovation and institutions are recognized as the main factors of economic growth. Our research has shown that the role of restructuring is underestimated. A hypothesis emerged – structural adjustment could be a driver of economic growth. The purpose of this article is to show that the hypothesis put forward is an objective pattern of structural transformation. On the basis of a comparative analysis of neoclassical and structuralist approaches, supplemented by an investigation of the basic properties of the structure of the economy, the following problems are solved. The phenomenon of dualistic causality of traditional concepts and structuralist views is revealed. It is substantiated that the considered concepts are not alternative, as it was believed, and are not complementary. The factors of economic growth studied in them are inseparable. It is shown that in a dirigist economy, which is typical for Russia and its regions, impacts on basic structure properties can become the main internal impetus for economic growth. The directions of balanced impact on the structure by measures covering the main and supporting areas of economic activity are determined. These include the modernization of the architecture and the spatial structure of the economy, as well as the functional structures of the main and supporting types of activity. The authorities of the region, acting within the framework of the functions of the regulator, in the development and implementation of the structural and investment policy can create favorable conditions for the priority development of industries-drivers with high innovation potential, improvement of the production and financial infrastructure, infrastructure for the development of innovations. At the same time, the restructuring of sectoral and technological structures should be accompanied by changes in the institutional, personnel and other supporting structures.

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.