Arhive: #4 2019

Theoretical, Institutional and Ethical Basis for Implementing Modern Industrial Policy. Part II

The article substantiates the importance of industrial policy as one of the basic institutions shaping the institutional environment of any country. We demonstrated that institutional factors for accelerating the processes of social and economic development are more important for the Russian economy than for the world economy. We revealed institutional innovations in scientific support of implementing industrial policy priorities. In modern conditions, the basic institution of development is fundamental science. From these positions we analysed institutional innovations in the field of fundamental science. Then we described the innovations that allow industrial policys tools to maintain the direction of development. This direction is defined and shaped not only by big challenges, but public needs, too. The analysis demonstrated that nowadays industrial policies around the world aim to support the development of digital technologies. We considered the stages of the digital economys development. Then, we hypothesised that a particularly important consequence of digital transformation is the formation of the prerequisites for changing the entire system of social relations defining the states institutional framework and industrial policys economic content. We emphasised that the development of the sharing economy (as one of the new trends in the world economic development) will significantly influence the change of industrial policys priorities and tools. The analysis of the use of the industrial policys tools in Russia showed the effectiveness of using the Industrial Development Fund (IDF). Furthermore, we structured the expected conceptual changes of the terms for concluding Special Investment Contracts (SIC). The analysis of the distribution of loans from IDF and SIC revealed a large discrepancy between the activities of the regions in obtaining the aforementioned loans. We noted there is a high probability of unpredictable consequences of digital technologies not only in the economic development of society, but also in the possible transformation of the universal lifeworld. Finally, we emphasised that in the context of the digital states formation, the search for a balance between technological and moral and ethical aspects in the processes of implementing industrial policy becomes urgent.