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Knowledge and Finance in Restructuring: a Look at the Russian Context

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  • Irina Peaucelle

    (PJSE - Paris-Jourdan Sciences Economiques - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract

This paper discusses the short run advantages of the Russian economy, connected to natural resources on the one hand, and to the scientific and technological culture of the workforce on the other hand. It analyses the utilization of the accumulated financial resources, provided by the sale of natural resources, for investment in industrial and high-tech projects in the sphere of science-intensive production and financial control. A schema of the flexible reconstruction of the existing system of production with the aid of an appropriate credit policy by the Central Bank is proposed.

Suggested Citation

  • Irina Peaucelle, 2008. "Knowledge and Finance in Restructuring: a Look at the Russian Context," Post-Print halshs-00754666, HAL.
  • Handle: RePEc:hal:journl:halshs-00754666
    DOI: 10.3917/jie.001.0009
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    References listed on IDEAS

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    1. Philippe Aghion & Christopher Harris & Peter Howitt & John Vickers, 2001. "Competition, Imitation and Growth with Step-by-Step Innovation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 68(3), pages 467-492.
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