Import substitution strategy in the Russian economy in the new sanctions and market realities

The article investigates the formation of import substitution strategy in the Russian economy in the context of strengthening sanction restrictions and emergence of new external shocks in the future. The strategy itself is positioned as an integral understanding of the set of goals, subjects and object of regulation of multilevel structural changes in the economy, tools and implementation scenarios, target indicators as expected results. The basis of the strategy in terms of reproduction is investments in import-substituting industries within the framework of public-private partnerships, and in the industry – a technological map of the import substitution. The author's methodology involves the analysis of national import substitution strategies implemented in a number of countries at various time intervals. Theoretical provisions for strategizing the import substitution in conditions of external shocks and sanctions include mechanisms and tools for intersectoral distribution of production factors – material and human capital, technology. As such mechanisms, the investment and innovation alliance is proposed as a form of public-private partnership in the manufacturing and high-tech sectors of the economy, the recreation of an innovative and investment-active social group in which human capital is reproduced – the basis for technological modernization of industry to the level of Industry 4.0. Special attention is paid to the tools of intersectoral redistribution of production factors as a practical side of the strategy.

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