Romanova, O. A., & Ponomareva, A. O. (2020). Multi-vector Industrial Policy in Russia in an Emerging New Industrial Landscape. Zhurnal Economicheskoj Teorii [Russian Journal of Economic Theory], 17(2), 276-291
The article notes a growing role of the industrial policy as one of the main instrument of changing the economic structure and global industrial landscape reconstruction. It is stated the absence of the general notion of the industrial policy, a common understanding of the aims and mechanisms for realizing these aims so far. Our purpose was to identify the strategic vector of the industrial policy, trends of technological development which determine its multi-vectoral dynamic changes in the current context. Th e study methodology is based on concepts’ synthesis the long-term techno-economic development theory, institutional theory and modern money theory. We show the principal differences in traditional and new understanding of modern industrial policy. Th e determining factor is identified which influences on the changing of industrial policy’s content related to the state evolution as main subject of its realization. We distinguish the stages of industrial policy changing vector for the last two centuries. Th e main trends of technological and social-economic development influence on shift in priorities of the industrial policy. We have found out the most important structural disparities of the domestic economy, which can create sustainable limits the economic development. It has been established that the systemic control measures of the economic, technological, ecological, social development have to be at the heart of industrial policy-making in the modern context. It is proved that in the conditions of setting sector priorities increasing risks the forming the multi-vector industrial policy is necessary. Th e strategic vector of the industrial policy should be saved over the long term, which is connected with structural proportion of the domestic economy. We have analyzed the tools and implementation of the industrial policy in the article. Th e transformation of the modern economy into the global network market changes the nature of the industrial policy both in terms of subject and object. Th e emergence of the concept of a digital state, a search for new paradigm of the industrial activity predetermines the necessity of network industrial policy-making.