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Industrial Policy Priorities of Russia in the Context of Challenges of the Fourth Industrial Revolution. Part 1

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  • Olga Romanova

Abstract

The article proves that the industrial policy is not only an element coordinating the various types of state policies. It is as well a platform, on which the economic policy of the state is built. I systematize five directions representing the traditional approach to understanding the industrial policy and three new directions of its understanding. I emphasize that a new purpose of the industrial policy as the achievement of «an image» of a “good economy†, and that the «standard projects» of regional industrial policy are unacceptable. I define new characteristics of the Fourth Industrial Revolution. Its fundamental features are harmonization and integration of a large amount of research disciplines. This, in turn, imposes high requirements to developing priorities for both the federal and regional industrial policy. Another feature of the Fourth Industrial Revolution is the emergence of the digital economy. I analyse its development in Russia as compared with the developed countries. Moreover, I systemize the studies about the readiness of Russian companies for the digital economy. The information and communication technologies are the most important factor for the digital economy. The analysis of these technologies development in regions showed high level of its differentiation of regional indicators (from 1.5 to more than 300 times). The assessment of the development of information and communication technologies allow categorise the Middle Urals as a leading region almost for all indicators in this area not only in the Ural Federal District, but also in Russia, in general. The importance of new business models as most essential innovations during the Fourth Industrial Revolution has increased. This defines new agents and objects of industrial policy. The results of the research may be used to correct the regional strategy of socio-economic development as well as laws on industrial policy.

Suggested Citation

  • Olga Romanova, 2018. "Industrial Policy Priorities of Russia in the Context of Challenges of the Fourth Industrial Revolution. Part 1," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(2), pages 420-432.
    • Handle: RePEc:ura:ecregj:v:1:y:2018:i:2:p:420-432
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    Cited by:

    1. Pupentsova Svetlana V. & Gromova Elizaveta A., 2021. "Risk Management in Business Valuation in the Context of Digital Transformation," Real Estate Management and Valuation, Sciendo, vol. 29(2), pages 97-106, June.
    2. Xueyang Wang & Xiumei Sun & Haotian Zhang & Chaokai Xue, 2022. "Digital Economy Development and Urban Green Innovation CA-Pability: Based on Panel Data of 274 Prefecture-Level Cities in China," Sustainability, MDPI, vol. 14(5), pages 1-21, March.
    3. E.V. Popov, 2021. "Drivers of the Economy in the Context of the Coronavirus Pandemic," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 20(1), pages 5-30.
    4. Viktor Dementiev, 2019. "Productivity Paradox in Regional Dimension," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(1), pages 43-56.
    5. N. V. Novikova & E. V. Strogonova, 2020. "Regional aspects of studying the digital economy in the system of economic growth drivers," Journal of New Economy, Ural State University of Economics, vol. 21(2), pages 76-93, July.

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