Innovation-investment aspect of import substitution in Russia

Abstract

The authors prove that nowadays a considerable number of industrial clusters of the national economy are import-dependent due to the lack of Russian competitive substitutes. The provided in the article analysis of the use of average annual production capacity of enterprises in Russia on the output of some sorts of products in 1990-2014 shows that when there are statistical reserves of production capacity, the qualitative composition of fixed capital assets with a high degree of physical wear and depreciation prevents enterprises from producing competitive national products. Deindustrialization of the Russian economy in 1995-2015 led to the stagnation of the manufacturing industry production potential including some enterprises determining the food security of the country. The mentioned above facts substantiated the necessity to develop approaches to the interpretation of adverse trends in the national economy and effective investment allocation mechanisms.