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Once again about where to go: Toward a development strategy in isolation from the West

Author

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  • Polterovich, V.

    (Central Economics and Mathematics Institute, Russian Academy of Sciences, Moscow, Russia
    The Moscow School of Economics (MSE MSU), Moscow, Russia)

Abstract

It is shown that the program of institutional changes, outlined in a number of articles of the author, is even more relevant in the current context of sanctions and needs to be further elaborated. Due to restrictions on import and export fl ows, the need to form long chains of added value within the country is increasing. Business cannot cope with this task on its own. To solve it the institutions of catching-up development are needed, including the system of indicative planning headed by the general development agency and the national innovation system aimed at borrowing of technologies with a gradual increase of own innovative developments. It is advisable to conduct the reform of economic governance as a continuation of the reform of project activities carried out in 2018-2019. New institutions must ensure economic growth by forming a set of mega-projects and programs, coordinated with each other and with the budget, based on the coordination of efforts of the state, business and society at the federal, regional and municipal levels. The increased necessity of differentiated progressive income tax introduction is underlined. The expediency of forming consortiums, expanding the system of sector research institutes and increasing investment in education are noted.

Suggested Citation

  • Polterovich, V., 2022. "Once again about where to go: Toward a development strategy in isolation from the West," Journal of the New Economic Association, New Economic Association, vol. 55(3), pages 238-244.
    • Handle: RePEc:nea:journl:y:2022:i:55:p:238-244
    DOI: 10.31737/2221-2264-2022-55-3-17
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    References listed on IDEAS

    as
    1. Homi Kharas & Harinder Kohli, 2011. "What Is the Middle Income Trap, Why do Countries Fall into It, and How Can It Be Avoided?," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 3(3), pages 281-289, September.
    2. E. Gurvich & I. Prilepskiy., 2016. "The impact of financial sanctions on the Russian economy," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 1.
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    Cited by:

    1. E. B. Lenchuk, 2023. "Technological Modernization as a Basis for the Anti-Sanctions Policy," Studies on Russian Economic Development, Springer, vol. 34(4), pages 464-472, August.
    2. Samovoleva, Svetlana, 2023. "Окна Возможностей И Ловушки При Переходе К Собственным Инновациям [Transition toward own innovation: the windows of opportunity and traps]," MPRA Paper 119314, University Library of Munich, Germany.
    3. Samovoleva, Svetlana, 2023. "Проблемы Регулирования Абсорбции Знаний В России [The Challenges of Regulating Knowledge Absorption in Russia]," MPRA Paper 119311, University Library of Munich, Germany.

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    More about this item

    Keywords

    institutional reform; economic growth; value added chains; indicative planning; national innovation system; anti-inflationary policy;
    All these keywords.

    JEL classification:

    • O21 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy
    • P11 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Planning, Coordination, and Reform
    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development

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