A new model of industrial policy in Russia in the context of global trends

The article is devoted to the analysis of processes and practices of re-shoring in Western countries and the creation of the model of industrial policy in Russia on these bases. The authors use the hypothesis that one of the strategies to revitalize the Russian industries and economy in general can be the creation of favourable conditions for the restoration of industrial production and localisation of foreign manufactures in Russia. This point is based on apparent trends in the global economy when the process of off-shoring from developed countries into countries of Asia-Pacific region is gradually being substituted by the reverse process. The main reasons for these global trends are as follows. The annual increase of salary in developing countries during the recent 10-15 years has led to an insignificant difference of unit cost in labour-abundant countries and in capital-abundant countries. The active development of new technologies allowing the optimisation of the manufacturing processes, computerisation and automation lead to a significant decrease of labour costs. From time to time, the Asia-Pacific region faces the scarcity of labour (including high-skilled workforce). This creates additional risks for industrial companies. Timely acknowledgement of the indicated trends and the creation of favourable conditions for the re-shoring of production and the localisation of new productions lead to significant macro-economic results. Despite the difficult situation in the Russian industry and economy in general, there are several foundations which, in conjunction with a correct industrial policy, can be transformed into significant competitive advantages, and which can create new stimuli for the localisation of productions in Russia. Analysis of the current problems in the Russian industries and the above-mentioned trends in the global economy allow creating a model of policy which, in our opinion, makes it possible to create necessary conditions and stimuli for constructive changes during a relatively short period of time. This model requires the following measures: improvement of the "one window" principle, provision of low-cost credit resources, improvement of management of industrial and scientific clusters, the development of logistic infrastructure on the bases of a hub city and a system of local logistic centres, the revision of technical specifications and guidelines, and the improvement of the tax system. The model describes the main problem to be faced on this way and possible solutions to them. The paper also formulates the main risks which must be taken into consideration while implementing the measures described in this model. A state policy of creating favourable conditions for the restoration of industrial production and localisation of foreign manufactures in Russia must give a significant impulse for the development of Russian economy, especially taking into account the existing internal and external limitations and future goals of Russia.

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