Factors that Necessitate Import Substitution in Russia and Mechanisms for Its Implementation

The problem of import substitution in Russia, which has been repeatedly brought up during the period of relative economic stability and high international prices on energy carriers, has become particularly crucial due to the exacerbated international situation and economic sanctions imposed on Russia. The need for import substitution measures in some branches of industry is stipulated not so much by the potential economic benefit, but by national security considerations as well as social and strategic expediency. Aim. This study aims to identify factors that necessitate import substitution in Russia and develops a mechanism for the preselection of import substitution projects. Methods. This study uses general methods of scientific cognition. Results. This study analyzes factors that necessitate import substitution in Russia and mechanisms for its implementation. Market factors that require large volumes of domestic consumption and a desire to drive foreign competitors out of the market should be identified only from the economic perspective, unlike factors that are associated with national security and foreign policy considerations. Based on the conducted analysis, a tool called “import substitution index” is introduced, which allows ranking import substitution measures by their overall importance for the national economy and assessing the expediency of implementation of certain measures. The authors propose a mechanism for the preselection of import substitution projects for the subsequent analysis of the expediency of their implementation based on the achieved import substitution index values.

import substitution, import substitution index, industry, economic effect, planning, selection of options, импортозамещение, индекс импортозамещения, промышленность, экономический эффект, планирование, отбор вариантов

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