Importance As Russia pursues its national interests and economic security, especially considering the national economy going global, economic competitiveness becomes a priority issue to address. To solve the issue, there should be an innovative approach to renewing the capital stock due to contemporary globalization trends. Objectives The research explores globalization trends in capital stock movements, identifies new areas for development in line with innovation and respective processes in the global economy. We formulate challenges, which the Russian economy shall adequately face. Methods The research involves conventional scientific methods, such as analysis and synthesis, observation, induction and deduction, systems approach, historical, logic and economic-statistical methods. Results We unfold the substance of globalization, its forms, and identify globalization trends in the global economy, which raised the issue of renewing the capital stock in the Russian industry. The article flags principal areas for determining, which organizational, economic and institutional measures can contribute to favorable conditions for an expedited transition to the innovative renewal of the capital stock. Conclusions and Relevance We propose a conceptual solution concerning the role of various globalization trends and factors, which require the transition to the demonstrably innovative renewal of the capital stock and the creation of a favorable environment for investing in renewal processes. The article may be instrumental for researchers, those aspiring doctoral degree, post-graduates, professors and senior students majoring in economics.
Keywords: economic globalization, capital renewal, competitiveness, national economy, investment climate, investment risks
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