Importance Russia has been seeing multifaceted and systemic crisis for recent years since the economic growth model based on natural resources is no longer viable. Currently, as a semi-periphery country in the global economy, Russia faces a very complicated and dangerous situation economically and politically. Objectives The research reviews the substance of socio-economic relations underlying the system of semi-periphery capitalism. It is required to tackle flaws of the existing system and form the real technological development model. Methods The article presents a variety of methodological approaches to economic growth evaluation. I apply the systems approach based on holism. Results I propose mechanisms and indicate trends to move towards an optimal economic system, real technological development model. The mechanism can be seen through stimulation of demand for innovation and allocation of investment resources among innovation consumers. The mechanism is implemented as part of the vertically integrated complex. The vertically integrated nexus between suppliers and consumers can be based on leasing. Conclusions and Relevance Transformations require institutional changes in the monetary system laying the basis for innovation. Innovation can be financed through alternative options that ensure the transition to the real technological development model. It is important to use resources and opportunities for non-commodity, investment payments like purposeful rent, for increasing the overall competitiveness of the civilization. Russia has all the opportunities along with the need to create various models for real technological development at the level of vertically integrated complexes and the national level.
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