The necessity for a radical change in Russia's economic development paradigm has become clear in recent years. President Medvedev has responded by formulating principles of innovative economic development and outlining the industrial priorities of the state. However, the success of Russia's effort to modernize depends on real cooperation between government and society in taking concrete actions that can facilitate technological breakthrough.
For the first time in recent history, Russia is making a serious attempt to drop the use of invocations and declarations while speaking about the innovative renewal of the Russian economy, and instead acting pragmatically by formulating both a plan of priorities and the basics of long-term policy. Russia's modernization plan has two major components: a) seeding innovation and technological breakthroughs inside the country and b) importing technology and equipment more efficiently for use in the real sector of the economy.
Both components are necessary.
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Author: Arkady Dvorkovich
