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Factors of economic growth: Empirical analysis of industrialization and investments in technological upgrade
https://doi.org/10.32609/0042-8736-2018-6-29-47
Abstract
The article discusses the conditions of forming of a new industrial economic growth model. They are determined by the already established model of growth that is characterized by the dominance of the transactional sector, as well as the impact on the GDP dynamics of each of its components. The structural analysis of economic growth with the assessment of the industrialization level according to the authors’ criteria, as well as the empirical analysis of investments in various kinds of technologies that determine the economic system technological level, are conducted. The ‘general’ and ‘special’ industrialization criteria allow us to determine whether the economy is industrial by structure or by level of technological development. It is shown that the low level of industrialization, especially by the ‘special’ criterion, is not predetermined. The structure of investments in different kinds of technologies affects the economy technological level and its change. Policy measures aimed at the creation of a new model of industrial growth for the Russian economy, mechanical engineering and commodity sector should account for that.
Keywords
economic growth,
factors,
processing,
raw materials sector,
transaction sector,
industrialization criterion,
investments,
technologies,
manufacturability,
business risk
JEL: E22; E23; L52; O11; O14; O47; O57
About the Authors
O. S. Sukharev
Market Economy Institute, Russian Academy of Sciences
Russian Federation
Russian Federation
E. N. Voronchikhina
Perm State National Research University
Russian Federation
Russian Federation
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Review
For citations:
Sukharev O.S., Voronchikhina E.N. Factors of economic growth: Empirical analysis of industrialization and investments in technological upgrade. Voprosy Ekonomiki. 2018;(6):29-47. (In Russ.) https://doi.org/10.32609/0042-8736-2018-6-29-47
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