Endogenous economic growth in Russia

Objectives and Activities:

The problem of economic modernization and innovative development is one of the fundamental issues that governments should solve on the verge of the 6th wave of innovation. In developed countries, substitution of natural and physical capital to human capital has become irreversible. Hence on the basis of the 6th wave of innovation emerged countries form an innovative economy. This will give them an unprecedented technological advantage that will be fully implemented in geopolitical and economic interest. In such circumstances, modernization pursuit of the technology leaders becomes complex and very often ineffective.   Analysis of global experience shows that only those countries that take into account global development trends and combine them with national traditions, peculiarities and mentality, can reach success in economic growth. The scientific novelty of the research and its goal is to design the concept of Russia’s economic development relying on endogenous (internal) factors, perform scenario modeling endogenous (internal) economic growth in Russia under Western sanctions and develop optimal organizational and economic mechanisms of their implementation. The purpose of the project is an actual scientific problem having both theoretical and practical significance in the context of current models of economic growth. The results of the project have to be of great practical importance since it will allow a to develop a fundamentally new economic development strategy and plan of action on a scientific basis. The aggravation of the geopolitical situation, the need to speed up the solution of the problem of modernization of the economy, the development of measures on import substitution, the country’s defense, and at the same time the need for the orientation to a new Sixth technological way, other external and internal challenges put forward the problem of the development and updating of the concept of endogenous (internal) economic growth in Russia under Western sanctions among the priorities. The modeling of the scenarios of endogenous (internal) growth of Russian economy is extremely important. This will enable to eliminate inefficient scenario, to minimize costs in the implementation of the scenario and develop optimal organizational and economic mechanisms for its realization.