Domestic Investment Equipment in the World Market: Dynamics and Structural Changes
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ONOMIC POLICY
Domestic Investment Equipment in the World Market: Dynamics and Structural Changes V. N. Borisova, *, O. V. Pochukaevaa, and K. G. Pochukaeva aInstitute
of Economic Forecasting, Russian Academy of Sciences, Moscow, 117418 Russia *e-mail: [email protected] Received March 23, 2020; revised April 3, 2020; accepted April 8, 2020
Abstract—Improving the quality and competitiveness of the domestic investment equipment is a prerequisite for the effective reproduction process of the industries of the real sector of the Russian economy. Export-oriented development of machinery industries producing investment machinery is the way to increase the competitiveness of both machinery and related industries. The article estimates structural changes in the nomenclature and geography of investment equipment export. The types of investment machinery most in demand in the world market are determined, and the indicators of export of key types of investment machinery to the markets of non-CIS countries and CIS countries are analyzed. Traditional and emerging markets for export of domestic investment machinery are identified. Keywords: machinery industry, investment equipment, technological competitiveness, investment equipment export, main markets, emerging markets, foreign markets, CIS countries DOI: 10.1134/S1075700720050044
One of the main functions of the machine industry is to provide investment equipment for the reproduction process in the economy. The problems of reproduction in the modern Russian economy were considered in [1, 2] from macroeconomic positions. The meso-level of the reproduction process was analyzed in [3–6]. Interrelations between industry-level and macroeconomic problems were shown in these works. Technological breakthrough in the economy is made by innovative technologies, the material embodiment of which is machinery, equipment, and vehicles. The production of investment equipment occupies a special place in the economies of countries with a developed machine industry. The technological level of machinery and equipment, which constitute an active part of the fixed production assets, determines the conditions and efficiency of all industries and sectors of the economy. A high technological level of investment machinery is a necessary condition for production of goods and services at the level required by the modern market. The growth of the technological level of production in the branches of the machine industry producing investment equipment creates conditions for their transition to the category of hightech branches. One of the ways of this transition was outlined in [7]. This way of development of production of investment machinery requires a significant increase in R&D costs. Therefore, it can be implemented only by large companies, and in certain cases it requires gov-
ernment support [8]. Hence, the observed high concentration of production in machine industries, up to global oligopolies [9], and, accordingly, a high concentration of exporters of investment machinery. The reproduction proce
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