Models of technological development: The influence of investment structure

Vilhelmina V. Glazunova and Oleg S. Sukharev
Additional contact information
Vilhelmina V. Glazunova: Institute of Economics of RAS, Moscow, Russia
Oleg S. Sukharev: Institute of Economics of RAS, Moscow, Russia

Journal of New Economy, 2024, vol. 25, issue 4, 6-23

Abstract: The problem of refining Russia’s model of economic development through achieving the technological sovereignty dictates the need for making strategic decisions within the investment policy of economic growth. The paper aims to determine the models of technological modernisation according to the structure of investments in “old – new” technologies and develop an algorithm for identifying these models by assessing the relationship between investment and risk. Methodologically, the study rests on the theory of technological change. The paper employs elements of structural, statistical, regression and econometric analysis, as well as applies taxonomy methods to pinpoint various options for investment and technological modernisation models. The evidence is the data on the investment in fixed assets and expenditures on technological innovations for 2010–2022 coming from the Federal State Statistics Service of the Russian Federation. The result is the identification of a model of technological modernisation in the Russian economy according to the structure of investments in “old – new” technologies and the sensitivity of the general technological intensity to investments. The paper distinguishes four general strategies of technological development by the impact of expenditures on the dynamics of technological intensity, namely “leadership”, “breakthrough”, “giving up”, and “degradation”. Then, according to the impact of investment in new technologies on technological modernisation it justifies the models “blockage”, “rigidity”, “modernisation”, “saturation”, and, in a similar manner, validates the models “degradation”, “backwardness”, “reliance on old technologies”, “reliance on new technologies” according to the impact of investment in old technologies on technological modernisation. The paper constructs a theoretical model of the connection between investment and risk, institutional parameters of investment process. The findings reveal that the Russian economy follows the model of backwardness with local technological innovations, which requires a massive increase in investment in new technologies, mitigation of risks, and modification of institutional conditions.

Keywords: technological sovereignty; technological intensity; technological development model; investment structure; risk; emerging technologies (search for similar items in EconPapers)
JEL-codes: E22 O11 O33 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://jne.usue.ru/images/download/105/1.pdf (application/pdf)
https://jne.usue.ru/ru/2024/1548 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:url:izvest:v:25:y:2024:i:4:p:6-23

DOI: 10.29141/2658-5081-2024-25-4-1

Access Statistics for this article

Journal of New Economy is currently edited by Yelizaveta A. Belousova

More articles in Journal of New Economy from Ural State University of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Victor Blaginin ().