Transregional coordination of modernization processes in implementation of import-substituting policy in Russia

The article presents results of the research on modernization strategies implemented in Russian economy. Authors have identified three dominating approaches: institutional, innovation-technological and import-substituting modernization. They have stated that import-substituting modernization in Russia is ongoing in terms of sanctions, a shortage of investment resources, insufficient home demand and significant regional differentiation. This necessitates strict coordination in modernization processes. To achieve this, authors have proposed a toolkit for transregional coordination in modernization processes to implement import-substituting policies based on integral indicators. Findings confirm that regions, in their efforts to achieve modernization targets, use their potential in a inefficient and counterproductive manner. One might use the developed toolkit as a classifier of regions and sectors of economy by criterion of dynamics in modernization processes, as well as a basis for indicative planning. © 2018 International Strategic Management Association.All right reserved.