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Improving the effectiveness of Russia’s investment and industrial policy
 
PIIS042473880008479-5-1
DOI10.31857/S042473880008479-5
Publication type Article
Status Published
Authors
Roman Gubarev 
Occupation: Associate Professor at the Department of Economics
Affiliation: Plekhanov Russian University of Economics
Address: Moscow, Russian Federation
Andrei Volodin
Occupation: Professor; Department of Mathematics and Statistics, Faculty of Natural Sciences
Affiliation: Regina University, Canada
Address: Canada
Eygeniy Dzyuba
Occupation: Expert
Affiliation: All-Russia People’s Front in the Republic of Bashkortostan
Address: Russian Federation
Yuri Tulenev
Occupation: Department Director
Affiliation: Department of Industry, Entrepreneurship, Environmental Management, Tourism and Information Technologies of the Republic of Bashkortostan Government
Address: Russian Federation
Fanil Fayzullin
Occupation: Principal Scientific Researcher
Affiliation: Institute of Social and Economic Research of the Russian Academy of Sciences, Ufa Federal Research Center RAS
Address: Russian Federation
Azat Yangirov
Occupation: Director
Affiliation: Institute of Strategic Studies of the Republic of Bashkortostan
Address: Russian Federation
Journal nameEkonomika i matematicheskie metody
EditionVolume 56 Issue 1
Pages54-66
Abstract

sanction pressure on Russian enterprises and taking into account the key role of industry in providing national economic security, the question of improving the efficiency of the country’s investment-industrial policy has become topical. The aim of the article is to elaborate an economic-mathematical model that will make it possible to make quick and effective managerial decisions in Russia’s investment-industrial sphere. The article considers a multi-model based on three methods: dynamic programming, Cobb–Douglas production function, and interindustry balance. The hypothesis made during the empirical study of the possibility of constructing one production function for several Russian industries, was confirmed. That is why, in our case, based on the general Cobb–Douglas production function, production capacity (gross production output) of several sectors of the national industrial complex are evaluated objectively. The first and second models are based on data from, respectively, seven and six industries of Russia for 2011–2016. Dynamic programming makes it possible to form an optimal plan (securing a maximum possible additional gross production output) of distributing the limited public investment resources among the sectors of the national industrial complex. The maximum possible growth of Russian industries’ gross value added is determined by means of the interindustry balance method. The study is the scientific basis for updating the provisions of the Russian investment and industrial policy.

Keywordsinvestment-industrial policy, dynamic programing, production function, labor, capital, resource productivity, clustering, interindustry balance, output, gross value added.
Received05.03.2020
Publication date20.03.2020
Number of characters28681
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