Substantiation and Modeling of Effects from the Implementation of Industrial Policy in the Context of Techno-Economic Paradigm Shift

Abstract

After the recent economic crises, a necessity for industrial policy developing became obvious both for developed and developing countries. In 2014 Russia adopted a Fundamental federal law on industrial policy, but there are however a number of problems to be solved, such as an assessment of the impact of the implementation of industrial policy alternatives. In the author's opinion, the solution of these problems can be based on the concept of techno-economic paradigm shift. Using the correlation and regression analysis, the dependence of GDP on the development of high-tech industries was studied on the example of technologically advanced countries (USA, China, and Japan) and also Russia. The study was conducted in the absence of developed tools and limited statistics which could provide an indirect basis for assessing the impact of techno-economic paradigm on economic growth and well-being of the population. The author concludes that of the three examined indicators, the high-tech export is the most representative. It can thus be recommended as one of the criteria for assessing impact evaluations of the implementation of industrial policy, which can meet the challenges of scientific and technological progress at the shift of techno-economic paradigms.