Institutions of catching-up development (on the project of a new model for economic development of Russia)

Автор: Polterovich Viktor Meerovich

Журнал: Economic and Social Changes: Facts, Trends, Forecast @volnc-esc-en

Рубрика: Socio-economic development strategy

Статья в выпуске: 5 (47) т.9, 2016 года.

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The article shows that institutional trajectories of catching-up development in successful countries including similar interim institutions; this similarity is explained by common technological, institutional and cultural limitations which need to be taken into account and overcome. Corporatism, indicative planning, the availability of the “general” development agency with broad mandate, undervalued exchange rate - these and some other mechanisms provide the countries of the “economic miracle” with an opportunity to initiate and maintain rapid economic growth despite the low level of human capital, underdeveloped civic culture and market failures. Institutions of catching-up development contributed to the formation of collaborative relations between the government, business and society. They eased the limitations and were gradually modified, providing a transition to modern democracies with efficient market economy. The conducted analysis helps outline a plan for an institutional reform taking into account Russia’s institutional features...

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Interim institution, social values, democratization, national planning, assimilation of technology, public-private partnership, project financing

Короткий адрес: https://readera.org/147223877

IDR: 147223877   |   DOI: 10.15838/esc.2016.5.47.2

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