Problems and Prospects of the New Industrialization of the Russian Economy Under the Transition to the Sixth Technological Mode

Abstract

Purpose: The article discusses the problems and prospects of the new industrialization of the Russian economy in the global competitive environment.

Design/Methodology/Approach: The authors present the distinction between the processes of re-industrialization and new industrialization. The authors have defined the features of new industrialization in the transition to the sixth technological mode, which reflect the emergence of new industries on the basis of new technologies, primarily nanotechnology, information technology, the artificial intelligence creation and biotechnology. At the same time, the transition to a new technological mode leads to the effect of new technologies “diffusion”, which makes it possible to modernize traditional industries on a new technological platform.

Findings: The authors disclose the impact of the new industrialization processes on improving the global competitiveness of Russian economy in modern conditions. They also consider the problem of the occurrence of double transformation and transaction costs under the transition to a new technology and determine the ways to overcome them in the investment cycle.

Originality/Value: The article reveals the possibilities and the existing systemic limitations of developing new industrialization processes in the industry structure of the Russian economy. It proves the necessity of using the systemic multi-level approach to implementing the concept of new industrialization. It substantiates the leading role in forming the new technological mode of large integrated structures that have a high innovative and investment development potential and can become full-fledged participants in the global competitive relations.