Abstract
Currently, the economic systems of developed countries are undergoing structural transformations associated with the deployment of a new environmentally oriented industrial sector on a new technological environmentally friendly basis. For technologically catching-up countries, including those focused on the extraction of natural resources, the task is to critically understand the modification of this trend, since the deindustrialization processes led to the loss of many modern manufacturing industries, which resulted in a deep import dependence on resource-saving technologies and equipment. This results in the wasteful use of the resource base of the economy and the lack of recycling, in increasing pollution and lagging behind in terms of environmental industrial technologies. Ineffective institutions and international financial and technological restrictions reduce the effect of stimulating environmental import substitution by the state, hinder the development of its reproductive mechanisms that can provide a positive trend in economic dynamics. Therefore, the development of environmental import substitution, integrating the resource availability of the economy and environmental imperatives, technologies for the careful use of resources and their recycling, determines the prospects for sustainable development of the economy as a whole.
Highlights
Scientific discussions about the "green" development of the economy of technologically catching up and resource-producing countries have been going on for a long time [1-3]
Environmental import substitution is a set of mechanisms for regulating the genesis of the "green" economy – both macroeconomic and sectoral, pursuing short-term and long-term goals
The connection between import substitution and the complex of processes accompanying the formation of a "green" economy consists in the modification of economic relations in the reproduction system, in the formation of their new subjects and new ties between the state and market actors
Summary
Scientific discussions about the "green" development of the economy of technologically catching up and resource-producing countries have been going on for a long time [1-3]. Most of the economies of resource-producing countries are still “brown”; based on burning fossil fuels or receiving the main income from the export of oil and gas [5] In view of such a significant dependence on fossil fuels, the transition to a "green" economy is not an easy task, for the solution of which it is necessary to create new environmental technologies and domestic production of resource-saving equipment [6]. This means the formation of a new type of import substitution – environmental one [7]. It is dictated by the growth of the debt of their non-financial corporations from 9 to 25 trillion dollars for 2008-2015 (from 57% to 104% of their total GDP) as a consequence of the deficit of their trade balances [8]
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