Economics and management of national economy

Innovation-investment aspect of import substitution in Russia

Economic Annals-XXI

Economic Annals-ХХI: Volume 157, Issue 3-4(1), Pages: 44-46

Citation information:
Smirnov, M., & Dudko, V. (2016). Innovation-investment aspect of import substitution in Russia. Economic Annals-XXI, 157(3-4(1)), 44-46. doi: https://doi.org/10.21003/ea.V157-0013

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Mikhail Smirnov
PhD (Economics),
Associate Professor,
Economics, Management and Politics Department,
Southwest State University
94, 50 Let Oktyabrya Str., Kursk, 305040, Russia
cmirnov@gmail.com

Valentin Dudko
PhD (Economics),
Associate Professor,
Economics, Management and Politics Department,
Southwest State University
94, 50 Let Oktyabrya Str., Kursk, 305040, Russia
walentin@bk.ru

Innovation-investment aspect of import substitution in Russia

Abstract. The authors prove that nowadays a considerable number of industrial clusters of the national economy are import-dependent due to the lack of Russian competitive substitutes. The provided in the article analysis of the use of average annual production capacity of enterprises in Russia on the output of some sorts of products in 1990-2014 shows that when there are statistical reserves of production capacity, the qualitative composition of fixed capital assets with a high degree of physical wear and depreciation prevents enterprises from producing competitive national products. Deindustrialization of the Russian economy in 1995-2015 led to the stagnation of the manufacturing industry production potential including some enterprises determining the food security of the country. The mentioned above facts substantiated the necessity to develop approaches to the interpretation of adverse trends in the national economy and effective investment allocation mechanisms.

Keywords: Import Substitution; Import; Competitiveness; Production; Investments; Deindustrialization; Russia

JEL Classification: C81; E01; F17; F21

DOI: https://doi.org/10.21003/ea.V157-0013

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Received 12.02.2016

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