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Development Trends and Economic Assessment of the Integration Processes on the Metals Market

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  • Romanova, O. A.
  • Makarov, E. V.

Abstract

In the present paper, reasons for the increased interest in industrial policy in both developed and developing countries are explained. The systematisation of the results of the development of Russian industry from 1989 to 2014 showed a lack of systematic selection of its priorities, preventing the formation of a strategic vector of industrial policy. The target diversity of the industrial policy is established at the different economic development stages of the country. In the context of economic sanctions against Russia, it is shown that the emergence of a new industrial policy vector is connected to the need for import substitution and concomitant changes in the development model of the domestic economy. The dynamics and characteristics of the industrial development area are shown by the example of a highly developed region like the Central Urals. The total level of organisational innovation activity continues to be low and composes only 12%, although in the manufacturing sector this index is higher than the regional economy index by four absolute percentage points. The industrial policy of the Central Urals is analysed and innovation drivers of the industrial sector of the regional economy are established. The possibilities of the defence, civil engineering, mining, chemical/pharmaceutical and forestry complexes of the Sverdlovsk Region to implement its import substitution policy are explained. The most significant investment projects that will reduce the import dependence of the regional economy are presented. The possibilities of the research sector and created innovation infrastructure of the region in solving this problem are shown. It is necessary to develop the regional laws on the elaboration of industrial policy according to the basic regulations of the Federal Law “On Industrial Policy in the Russian Federation.â€

Suggested Citation

  • Romanova, O. A. & Makarov, E. V., 2015. "Development Trends and Economic Assessment of the Integration Processes on the Metals Market," R-Economy, Ural Federal University, Graduate School of Economics and Management, vol. 1(1), pages 160-169.
    • Handle: RePEc:aiy:journl:v:1:y:2015:i:1:p:160-169
    DOI: 10.15826/recon.2015.1.015
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    Cited by:

    1. Olga Romanova & Vladimir Strovskiy, 2016. "Development of the Methodology for the Economic Evaluation of Managerial Decisions as a Factor of Economic Security Increase," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(3), pages 937-950.
    2. Romanova, O. A. & Strovsky, V. E., 2016. "Development of a Methodology for the Economic Assessment of Managerial Decisions as a Factor of Increased Economic Security," R-Economy, Ural Federal University, Graduate School of Economics and Management, vol. 2(3), pages 303-313.

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