Shaping national policies at the time of global technological change: The case of Russia

Abstract

The secret of any economic miracle lies in correct identification and implementation of development priorities, the latter giving an opportunity to ride another wave of economic growth. But in order to do this, it is important to create scientific information, production technology and intellectual capacity for the development of perspective technologies. Further expansion of use of the latter on the world market scale gives their owners an opportunity of ultra-speed growth of production and income. But this is preceded by a more or less extended period of accumulation of advantages in an unfavorable economic environment. Such accumulation implies participation of governmental financial institutes capable of overcoming the threshold of simultaneous costs and making profitless investments during a long time period. Implementation of the liberal strategy in developing countries is unpromising for it eliminates the possibility of such development institutes. This can be clearly seen by the results of this strategy in this country.