Abstract
Keeping in mind the significant dependence of the Russian economy on oil and gas revenues coupled with the low energy efficiency and technology backwardness, the country faces noticeable threats to its technological and economic sustainable development. Findings of a system analysis of the Russian energy sector indicate the need for organizational and technological changes. It is found that easily available opportunities to get raw material rent, along with respective rules of the game, reduce economic agents’ interest to innovations. External risks, such as sanctions, volatile energy markets, are not the root cause of the crisis in Russia, but these factors do destabilize the situation and make modernization more difficult. In this context, strategies and mechanisms that meet internal and external challenges are required. The novelty of the approach is that the improved systemic economic paradigm of innovation strategy formulation and support mechanisms implies moving the development drivers from the category of external impacts on the country’s energy sector to the category of internal imperatives of its technological development through creation and stimulation of innovation and industrial ecosystems where the energy sector will serve as an infrastructure framework that consolidates all sectors of the economy.
Highlights
Keeping in mind the significant dependence of the Russian economy on oil and gas revenues coupled with the low energy efficiency and technology backwardness, the country faces noticeable threats to its technological and economic sustainable development
The novelty of the approach is that the improved systemic economic paradigm of innovation strategy formulation and support mechanisms implies moving the development drivers from the category of external impacts on the country’s energy sector to the category of internal imperatives of its technological development through creation and stimulation of innovation and industrial ecosystems where the energy sector will serve as an infrastructure framework that consolidates all sectors of the economy
Almost tasks that make up the sustainable economic development goals can be attributed to the energy sector; these tasks include four groups of benchmarks aimed at its modernization: 1) efficient technologies; 2) social well-being; 3) ecology and environmental protection; 4) innovations, scientific development, technological advance
Summary
Keeping in mind the significant dependence of the Russian economy on oil and gas revenues coupled with the low energy efficiency and technology backwardness, the country faces noticeable threats to its technological and economic sustainable development. It is found that available opportunities to get raw material rent, along with respective rules of the game, reduce economic agents’ interest to innovations External risks, such as sanctions, volatile energy markets, are not the root cause of the crisis in Russia, but these factors do destabilize the situation and make modernization more difficult. In this context, strategies and mechanisms that meet internal and external challenges are required. The draft strategy of Russia’s long-term development with low greenhouse gas emissions through 2050 outlines the transition to energy-saving technologies and reduced emissions after 2030
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