Shifting towards an Innovative Development Model in Russia: Overcoming Committed Mistakes
The paper analyzes the main reasons that over the past 25 years were preventing Russia from moving to an innovative development model that underlies economic competitive- ness and sustainable economic growth for many developed and developing countries in the world. It is shown that the following tenets of the Washington Consensus and the liberal economic policy led Russia to adopt an export-raw material development model, which resulted in de-industrialization, degradation and collapse of the real economy, as well as technologi- cal underdevelopment. The paper proposes measures that can be implemented to turn the country towards innovative development. Among the most important - the implementation of a new strategy for monetary regulation, strengthening of state's goal-setting activity and strategic planning mechanisms, creation an appropriate institutional environment, provi- sion of high-quality innovation management