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The transition to the innovative economy

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Eng » Announcements articles: The transition to the innovative economy - 4-04-2012, 10:44



E.  G. Yasin.

Russian economist. He was the Russian Minister for the Economy between 1994 and 1997.

He is currently a research director at the National Research University Higher School of Economics.


Russia today faces a very serious challenge. The country needs to be modernized. Having the significant natural resources and the funds, Russia would maintain the same growth rate, which it has already reached. Now Russia can not compete with the developed countries, such as China and India in the production of labor-intensive products. It is therefore urgent to undertake some reforms that would lead to the formation of the innovation economy, which could be called a knowledge economy, creative economy. In order to achieve this we need to create the conditions of the Russian society modernization, improve our culture and institutions.