Determination of the vector of new industrial policy on the basis of Neo-Schumpeterian theory

The subject of the article is to study the choice of the strategic directions of industrial policy on the basis of the identification of relevant factors in the development of the industrial system, as well as to develop and test the assumptions of the modern neo- schumpeterian theory of development, which is applied to the description of the evolution of industrial sectors. The main hypothesis of the research is the assumption that the development of modern industrial system goes beyond the well-known principle of “creative destruction”. This principle is aggressively being popularized by J. Schumpeter and has firmly entered into the intellectual framework of economic theory. It is also submitted to a different principle - “combinatorial compounding”, that means technologies are combined providing a new quality of a system. At the same time a substantial part of such combinations does not require significant additional resources and in its turn it creates new modes and forms of industrial development in the economy of inter-specific resources. Speculation in the study advocates that industry evolution detects a change in the weight of its driving forces and permanent definition of the value of each factor will adjust the methods of policy, in particular the industrial policy. To achieve the main objectives of the study a method of modeling, correlation and regression analysis and factor analysis are applied to establish relationships between the parameters of the system, to identify relevant factors that play a dominant role in the changes. The use of these methods determines the main directions of actions in the framework of measures formed by an industrial policy, as well as specific measures that determine the dynamic of the development of individual sectors of industry and enterprises. The factor analysis concludes that the transition of labor resource from “old” industries into “new” ones is very low in Russia, and the increase in the number of people being employed in the new productions is due to the incoming resource. According to the authors the factors are ranged in the following order in Russian industry (in mechanical engineering as the main industrial sector, in particular): technology, capital, institutions (the state development program) and labor. This confirms the assumption that labor has significant limitations in Russian industry and these limitations affect the long-term development of the national industry.