STATE INDUSTRIAL POLICY (ASPECTS OF ECONOMIC SECURITY)

Abstract

The economic policy pursued in the Russian Federation since the early 1990s primarily aimed at
stabilising the macroeconomic situation of the national economy through monetary and budgetary policies.
This task was complicated by the changed realities in the global market conditions. The development
and adoption by Russia of a number of concepts of the state industrial policy and specialised legislative
acts failed to prevent a critical drop in industrial production, and not only because of the lack of
financial security. The complexities of industrial development are largely explained by the domestic
investment mechanism, which emerged during the reforms and aimed atmaximizing profits, and thus
became subject to the monetary and financial flows concentrated in the speculative-intermediary
sphere, regulated by the laws of monetarism and causing a decline in investment and innovationin the
real sector of the economy. Russia's adoption of a national and economic security strategy poses new
challenges in terms of increasing the potential of industry and, above all, its high-tech sector.