| | | | PROBLEMS OF MODERN ECONOMICS, N 4 (36), 2010 | | | | PROBLEMS OF MODERNIZATION AND TRANSITION TO INNOVATIVE ECONOMY | | | Khubiev K. A.
Department of Economics, M.V. Lomonosov Moscow State University PhD (Economics), Professor
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| | | The article evaluates the current state of Russian economy from the perspective of the classical reproduction approach. Over the last two decades Russian economy was undergoing the large transformation cycle (LTC), which incorporated both the financial crisis of 1998 and the economic cycle of the end of the first decade of the XXI c. (small transformation cycle, STC). Negative influences on the part of LTC did not allow developing modernization potential of STC. Current resource owners in Russia do not cope with the task of modernization in spite of the fact that privatization gave them former state resources, assets, and profit flows. The author suggests conducting open investment competitions at privatized enterprises to transfer the rights to the competition winners, i.e. innovation-motivated economic subjects, and compensating privatization costs to the former owners | | Key words: modernization, large transformation cycle, small transformation cycle, innovation-motivated subjects, open investment competitions | |
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