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Public policy of import substitution: preliminary results and trends


Shirokova O.V., Nazarenko V.S.
(about the authors)

Shirokova Olga Vyacheslavovna –

Nazarenko Vladislav Sergeevich –

Published in:
Journal of International Economic Affairs
– Volume 7, Number 4 (October-December 2017)

JEL classification: F10, F52, Q18

Keywords: export, import, import substitution, import substitution strategy, national economy, national security, state support


Citation:
Shirokova O.V., Nazarenko V.S. (2017). Public policy of import substitution: preliminary results and trends. Journal of International Economic Affairs, 7(4), 343-356. doi: 10.18334/eo.7.4.38431


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Abstract:

The article analyzes preliminary results and problems encountered with the implementation of the policy of import substitution in Russia. It is beyond doubt that the dependence of the leading and strategically important enterprises and branches on supplies of the imported equipment, accessories and materials is a serious threat to national security. The article proves that in the conditions of limited funding, the import substitution needs to be given a priority controlled character, taking into account prospects and specific features of economy. We consider effective measures of the state support, its areas, the main difficulties in substitution of foreign funding, need of respecting international quality standards, technological trends, export diversifications and healthy domestic competition.








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