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The significance of an industrial strategy in development of the modern national economics

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  • I. K. Nizamutdinov

Abstract

In the modern economics the issues of innovation and industry development directly determine the features of formation or the national economic system. The article presents the analysis of the factors determining the effectiveness of the impact of innovation process on the sustainable development of the national economics. The purpose of the study is to reveal the signifi cance of innovation processes for development of the national economic system and identify the factors facilitating their improvement. Within the framework of the goal stated it is essential to analyze the existing peculiarities of development of Russia’s economics, basing on the world experience to evaluate the impact of the innovation process and the innovation segment of the economics on the development of the entire economic system, to make quantitative assessment of the role of innovation technologies in the formation of positive economic growth rates. To assess the signifi cance of innovation process formed within the growth of human capital and human development in infl uencing the improvement of the economic system, the author applies the following methods: comparison, quantitative analysis and generalization of the elements of the innovation component of industrial development in the national economics. The research carried out allowed discovering the determining role of innovation process in the development of the modern economics, evaluation the impact of the human capital on the process of creating new technologies, comparison of the role of the innovation process in the Russian economics and that of the USA. The results of the study are applicable in implementing the corrective actions of the government on stimulating economic and industrial growth, in planning and implementing the programs for strategic innovative development of industrial sectors in Russia as well as in carrying out further research in assessment of the role of innovation process in the national economic system.

Suggested Citation

  • I. K. Nizamutdinov, 2024. "The significance of an industrial strategy in development of the modern national economics," Russian Journal of Industrial Economics, MISIS, vol. 17(4).
    • Handle: RePEc:ach:journl:y:2024:id:1362
    DOI: 10.17073/2072-1633-2024-4-1362
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