National Interests: Priorities and Security

Political aspects of economic modernization in the Russian Federation

Vol. 13, Iss. 8, AUGUST 2017

Received: 30 June 2017

Received in revised form: 18 July 2017

Accepted: 4 August 2017

Available online: 29 August 2017


JEL Classification: F51, O14, O32, O33, O38

Pages: 1415–1428

Ivanov V.N. Ural Social and Economic Institute (Branch) Educational Institution of Higher Professional Education Unions Academy of Labor and Social Relations, Chelyabinsk, Russian Federation

Importance The article discusses some political factors that influence the economic modernization in the Russian Federation.
Objectives The research identifies the key political factors that influence the modernization of the Russian economy and analyzes their effect. I also determine which measures could possibly be undertaken to counter adverse factors.
Methods Political aspects of the economic modernization in Russia were analyzed with systems, comparative and historical methods.
Results In Russia, the economic modernization is influenced with attitudes of the governmental leadership to the modernization strategy and tactics, capabilities of the political system to ensure it, corruption in public administration, non-existent elite for modernization initiatives, ineffective use of development institutions and organizations called to provide the economy with modern technologies, U.S. and EU sanctions against Russia.
Conclusions and Relevance Successful modernization of the economy requires to consider adverse consequences of internal and external political factors. Russia's political system needs to be improved, with raising the political rivalry. The State should curb the corruption, paving the way for the modernization elite aspiring a new economic model. The policy of economic sanctions proves that the modern economy is needed to preserve the national sovereignty of Russia.

Keywords: modernization, political factor, government, technology


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