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Russian Energy Industry and the Transition towards the Sixth Wave of Innovation: Current State and Prospects

Abstract

The structural transformations occurring in the world economy over the past few years are largely due to the transition towards another wave of innovation. Almost every area of activity underwent monumental changes, including the traditionally conservative infrastructure industries. This study focuses on such industry-the energy industry, the directions for the development of which are viewed from the perspective of their conformity with the priorities of the sixth wave of innovation. Aim. This study aims to identify the problems and prospects for the development of the Russian energy industry in the context of the transition of the world economy towards the sixth wave of innovation. Tasks. This study determines the place and role of the energy industry in the modern economy; identifies the extent of the industry’s impact on the dynamics of economic growth; systematizes the directions of energy system innovation processes; and substantiates the effects of the energy industry on the innovative development of various sectors and areas of activities. Methods. This study uses general methods of scientific cognition, inferential analyses (correlation and regression), and a scenario approach to the examination of the prospects for innovative development of the energy industry in the context of the transition of the world economy towards the sixth wave of innovation. Results. It is determined that the energy industry is gradually moving beyond solving narrow infrastructural problems associated principally with meeting persistent demands for energy. Burgeoning needs of the energy industry for system technology solutions of a fundamentally new quality are already shaping new global high-tech product markets, where Russian manufacturers could hold important positions. Further, under an emergent conditions frame, the energy industry itself has become an experimental platform not just for approbation, but also for the development of advanced solutions in the field of intelligent tracking of energy solutions, implementation of distributed generation technologies, smart energy transfer, etc. During the development of such solutions, intensification of innovative processes can be expected, resulting in a large number of high-tech, export targeted solutions. Conclusion. The traditional dominance of the fuel and energy complex in the Russian economy is likely to continue. However, while it was previously focused on extraction and commercialization of energy resources, now the focus is on creating a diversified range of energy-oriented products and technologies with high processing levels and, therefore, higher added value.

About the Author

Azat R. Sadriev
Kazan Federal University
Russian Federation


References

1. Исследование выполнено за счет гранта Российского научного фонда (проект № 16-18-10227)

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Review

For citations:


Sadriev A.R. Russian Energy Industry and the Transition towards the Sixth Wave of Innovation: Current State and Prospects. Economics and Management. 2016;(11):20-26. (In Russ.)

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ISSN 1998-1627 (Print)