Transnational sector of the russian economy: predictable dynamics and development problems

Journal of International Scientific Publications: Economy & Business. 2014. Vol. 8. P. 1166–1177.

Igor E. Frolov

Since the mid-2000s, the Russian economy has been witnessing the emergence and development of a new transnational sector on the basis of state-owned corporations. Essentially, it personifies a new economic management set-up, which has a significant impact on the national economy dynamics and is responsible for the creation of new development challenges. The integration of major Russian state-controlled corporations with the international companies, engaged in the reproduction cycles of international capital, has set the limits for the growth of national capital and thus restricted the internal sources of investment into the Russian manufacturing industry and R&D area. The attraction of foreign capital with a view to building up relationships between science and implementation of innovations under such conditions will provide a realistic possibility for inserting the R&D programs into the intellectual outsourcing agenda for the purpose of servicing the international corporations.

Keywords: Russian economy, global economy growth rates, export-oriented sector, internally-oriented sector, transnational sector, state corporations