Статья 13117

Title of the article

IMPORT SUBSTITUTION AS A STRATEGY OF THE INDUSTRIAL POLICY 

Authors

Sokolova Ol'ga Yur'evna, Doctor of economic sciences, professor, head of sub-department of world economy and foreign economic activities, Saratov Socioeconomic Institute of Plekhanov Russian University of Economics (89 Radishcheva street, Saratov, Russia), oysokol03@rambler.ru
Kolotyrin Evgeniy Alekseevich, Postgraduate student, Saratov Socioeconomic Institute of Plekhanov Russian University of Economics (89 Radishcheva street, Saratov, Russia), ekolotyrin@mail.ru
Skvortsova Valentina Alekseevna, Doctor of economic sciences, professor, sub-department of economics and international relations, Penza State University (40 Krasnaya street, Penza, Russia), va_skvortsova@mail.ru

Index UDK

330.101.541

DOI

10.21685/2072-3016-2017-1-13

Abstract

Background. In terms of the introduction of sanctions the Russian leadership declared the policy of import substitution. Understanding of the modern role of import substitution, modern interpretation and applicability limits definition in realization of the industrial policy are topical issues of economic science. The article aims at offering a modern vision of import substitution, at identifying key differences from the concept of “protectionism”, and at determining some realization features of the import substitution strategy.
Materials and methods. The research objectives were implemented through analyzing and generalizing theoretical positions of foreign and domestic researchers, through systematizing the existing approaches to implementation of the industrial policy. Applying the methods of logical analogy and synthesis of the existing theoretical developments, the authors characterized main strategies of the industrial policy (export-oriented strategy, strategy of import substitution, innovation strategy) and determined the place of the import substitution strategy.
Results. The study identified three approaches to the concept of “import substitution”: it can be considered as an economic category, a process and a strategy implemented by the state. The article shows that, theoretically, import substitution has  a contradictory nature: on the one hand, it is a model of integration into the global economy focused on economic growth, on the other hand it is one of the instruments of realization of the policy of economic protectionism. The article identifies key differences of import substitution from protectionism and reads about the concept of “innovative import substitution”.
Conclusions. The strategy of import substitution is becoming quite significant at this moment. The author suggests to understand import substitution as a state policy aimed at increasing internal demand for domestic products by introducing certain measures to reduce the consumption of foreign similar products in order to create globally competitive domestic producers and goods. The article concludes about a necessity of implementing a strategy of innovative import substitution.

Key words

import substitution, industrial policy, competitiveness, national security

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References

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Дата создания: 28.08.2017 09:44
Дата обновления: 29.08.2017 09:08