State industrial policy (aspects of economic security)

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.