Ways of realization of import substitution policy in the frames of economic cooperation with the countries of the Eurasian Economic Union

Marina L. Vartanova () and Galina I. Osadchaya ()
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Marina L. Vartanova: Institute of socio-political studies of the Russian Academy of Sciences
Galina I. Osadchaya: Institute of socio-political studies of the Russian Academy of Sciences

Economic Consultant, 2018, vol. 23, issue 3, 10-15

Abstract: At present, the policy of import substitution in Russia is implemented not only at the national level, but also at the union level. The authors of the article analyze the extent to which the allies succeeded in the conditions when the policy of import substitution started and what are its features for the member countries of the EAEC. It is noted that due to the fact that the countries of the EAEC have no problems with the West, and therefore there were other incentives for implementing the industrial policy. Therefore, the uncertainty about the duration of sanctions against Western countries can also serve as a barrier to the growth of exports from the EEA states. Of particular interest are studies of forecasting the main trends in the development of production in agriculture and an increase in the domestic demand of the population of the Russian Federation for agricultural products as the most important condition for the development of the economy for the short and medium term. Meanwhile, the authors note that the policy of import substitution in the EAEC is relevant not only for agriculture and the food industry. Equally important is the dependence on imports in such sectors and sectors of the economy as engineering, software production, information and communication technologies, pharmaceutical and medical industries, on which the security of the state and the quality of life of its population critically depend. Simultaneously, the Russian authorities, by subsidizing investments, providing favorable loans and other benefits, began to stimulate the production of critical industrial products.

Keywords: the agricultural sector; the Eurasian economic Union (hereinafter – the EAEU); import; import substitution; import-substituting industries; intensification of production; infrastructure; policy; food security; industry; agricultural development; sanctions; agriculture; modern technology; trade; export; economic cooperation; efficiency (search for similar items in EconPapers)
JEL-codes: F51 (search for similar items in EconPapers)
Date: 2018
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