Stakeholder Responsibility in the Formation of Global Value Chains

The paper investigates the role and the responsibility of stakeholders when forming global value chains, which is of special interest in the context of the conceptual support for the strategic development of the Russian economy under globalization. The methodological basis is the principles and approaches of evolutionary and institutional economic theory that are most appropriate for studying the patterns of reproduction processes and the behaviour of key institutional actors in global value chains. The information base of the research comprises the statistical data from Russian, foreign and international sources, normative and legal acts of different levels, as well as the results of economic and historical studies of leading scholars which present the stakeholder approach to the formation of global value chains in different countries. We state that the development of competitive industries included in the global value chains on the basis of innovation and high-conversion technologies should become the strategic priority of Russia’s modern structural economic policy ensuring sustainable and intensive growth. According to statistics and research studies, institutional bearers of intellectual capital, which are simultaneously the key stakeholders of the technological chains, represent the dominant interests in modern economy. We highlight that economic ties based mainly on raw material production and tangible assets still dominate in sectoral and technological structure of Russia’s economy. This makes national enterprises dependent on the situation in the global markets and turn them into recipients of a small share of the created added value. We argue that the critical point in resolving this issue is motivation and behaviour of key stakeholders, which requires effective economic mechanisms and institutions of managerial responsibility to be developed and implemented