Problems of the investment and construction sector development in conditions of the national economy modernization

Economic Annals-ХХI: Volume 137, Issue 1-2(1), Pages: 50-53

Citation information:
Peshkov, V., & Kasyanchik, P. (2014). Problems of the investment and construction sector development in conditions of the national economy modernization. Economic Annals-XXI, 1-2(1), 50-53. https://ea21journal.world/index.php/ea-v137-13/

Vitaliy Peshkov
D.Sc. (Economics),
Professor,
Head of Expertise and Property Management Department,
Irkutsk State Technical University
83 Lermontov St., Irkutsk, 664058, Russia
pvv@istu.edu

Pavel Kasyanchik
PhD (Economics),
Associate Professor,
Irkutsk State Technical University
83 Lermontov St., Irkutsk, 664058, Russia
kasyanchik-pavel@mail.ru

Problems of the investment and construction sector development in conditions of the national economy modernization

Abstract. The distinctive feature of the current state of the Russian economy is its total underdevelopment compared to the growth and development of leaders. Based on the analysis of available resource capacity, it is obvious that modernization of the economy at a time is impossible. It is necessary to determine the breakthrough industrial sectors and the main elements which are able to be as a powerhouse for other sectors. It is necessary not only to focus on the currently-in-fashion sectors of nanotechnology and biotechnology, but to develop traditional business sectors with multiplication properties.

The analysis of modernization programs in foreign countries, such as the USA, Germany, China, demonstrated that in all the cases construction in terms of implementation of major construction projects and programs was considered as a priority – the breakthrough industry able to «bring up» the other sectors of the national economy. Given the social importance of the investment and construction sector and multifunctional of the real estate, it becomes quite obvious that it will be impossible to modernize national economy without solving the problems of capital construction.

Keywords: Investment; Construction Sector; Modernization; Structural Change; Innovations; Subsidy Assistance; Housing Policy

JEL Classification: E62; H68

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Received 08.11.2013