Policy paper: modernizing the Russian economy, a theoretical perspective

In an exclusive policy paper for Modern Russia, Dr. Peter W. Schulze, Professor h.c. of Political Science, International Relations and Russian Studies at Georg August University of Göttingen, analyzes the theoretical perspectives at work in the current modernization of the Russian economy.  Dr. Schulze focuses on three modernization efforts underway in Russia and the potential effects of these for the Russian economy:

• Creating a business and R&D environment attractive to foreign specialists who can fill gaps in specific technical sectors in the Russian economy;

• Promoting import substitution policies while maintaining the Russian economy’s international openness, in accordance with the country’s recent WTO accession agreements;

• Fostering domestic R&D and startups, specifically by partnering with foreign enterprises to take full advantage of an exchange of expertise.

Excerpt:

“The concept of modernization therefore doesn’t only apply to industrial, structural and social adaptation processes in developed nations trying to “renew” their economies, but can also be used in relation to the efforts of developing countries to catch up with their competitors in the developed nations. At the heart of all modernization efforts lies the need to renew the fundamental technological and industrial structures of a country. 

As a result, modernization strategies don’t differ dramatically from each other, even though variations are possible, and they can be applied in most countries around the world. This is also true for Russia, where modernization initiatives are already being implemented in a number of economic sectors.”

To continue reading Dr. Schulze’s article, “Western Putting Russia’s modernization in theoretical perspective”, please see the full version below. 

Putting Russia's Modernization in Theoretical Perspective