Russian industry: the impact of sanctions and import substitution prospects

Dontsova O.I.1, Tolkachev S.A.1, Komolov O.O2,3
1 Финансовый университет при Правительстве Российской Федерации, Russia
2 Российский экономический университет им. Г.В. Плеханова
3 Финансовый университет при Правительстве Российской Федерации, Москва

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Journal paper

Journal of Economics, Entrepreneurship and Law (РИНЦ, ВАК)
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Volume 9, Number 4 (October-December 2019)

Citation:

Dontsova, O. I., Tolkachev, S. A., & Komolov, O. O. (2019). Russian industry: the impact of sanctions and import substitution prospects. Journal of Economics, Entrepreneurship and Law, 9(4), 271-288. https://doi.org/10.18334/epp.9.4.41512

Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=42471340
Cited: 40 by 30.01.2024

Abstract:
The paper is dedicated to the development of Russian industry at the present stage. It is characterized by low production growth rates, external sanctions, reduced export earnings. In such circumstances, an attempt to build an industrial policy on the basis of the outdated principles of market orthodoxy (deregulation of market, reducing the role of the state in the economy, export-oriented development model, etc.) leads to no negative consequences, which is manifested in the aggravation of the country's dependence on imports of technology and equipment, low performance and simplification of its internal structure. The authors conclude that the import substitution program is, on the whole, the right direction for the development of industry, however, the measures taken within the state economic policy do not allow to achieve its potential.

Keywords: industrial policy, import substitution, sanctions, manufacturing

JEL-classification: F51, L52, O24

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Смотрите также:

   Import Substitution is the Priority Direction of the Russian Food Policy (Сергеева И.А., Сергеев А.Ю.) Food Policy and Security. Num. 2 / 2015

  Analysis of the implementation of the import substitution program in the Russian Federation (Содномова С.К., Рубцова Н.В) Journal of International Economic Affairs. Num. 1 / 2020

   Assessment of import substitution and innovations in the fuel and energy complex on the example of the Ural regions (Пыхов П.А.) Creative Economy. Num. 12 / 2021

   Production localization as a key mechanism of import substitution to ensure the company's economic security (Сенков В.А., Домничев Д.Ю.) Economic security. Num. 1 / 2023

   State regulation of the economy during the global crisis: the impact of tax policy on import substitution program (Голубцова Е.В., Новикова Е.С.) Economic security. Num. 1 / 2023

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