Using foreign sources for tech re-equipment of Russia’s economy

Abstract

The article examines the possibilities of using foreign technologies and direct investments for Russia’s economic modernization. Successful domestic and international experiences in this sphere are analyzed. The authors pay attention to the complexity and risks associated with the use of external financial resources. An attempt was made to evaluate the government and businesses potential to increase expenditure on modernization of the economy. It is concluded that even in the face of import substitution, creation of conditions for a wider use of foreign technologies should be the most important imperative of the economic policy. Therefore a number of measures to stimulate the inflows of foreign technologies (material and nonmaterial) are proposed.