Impact of economic shocks on the reproduction system during the transition to a neo-industrial structural shift
Abstract. The article examines a problem of impact of economic shocks on the structure of the reproductive system that ensures neo-industrial transformation of the economy. Approaches to analyzing the structure of reproduction and its role in initiating structural changes, which can be both neo-industrial and de-industrial in nature, are considered, which ultimately determines the stability of the economy to external and internal shocks of endogenous and exogenous nature. The role of modification of economic relations in the reproduction system is shown, their new subjects necessary to initiate neo-industrial structural shift are identified, during which a basis for the resistance of the economy to shocks is being formed. The research methodology includes approaches to studying the structure of reproduction processes and the impact of endogenous and exogenous shocks on them, the main of which are investment and technological ones, respectively, as well as approaches to the development of economic relations in the reproduction system, presented in leading schools of economic theory. In the article, particular attention is paid to the creation of reproductive conditions for the reduction of exogenous technological shocks that determine neo-industrial changes in the structure of production factors and the ratio of their effectiveness.
Keywords: neo-industrialization, deindustrialization, reproduction, investment, structural shift, economic shocks, economic relations.
Highlights:
♦ approaches to the problem of impact of external shocks on the reproduction system and the possibility of increasing resistance to them during a neo-industrial structural shift, primarily in the reproduction system, are analyzed;
♦ the key role of modification of economic relations in the reproduction system in initiating neo-industrial structural shift and overcoming the inertia of deindustrialization of the economy, enhanced by technological shocks, has been identified;
♦ the subjects of economic relations in the reproductive system of the national economy are identified, the formation of which is a necessary condition for a neo-industrial structural shift;
♦ the anti-shock role of the development of investment in the creation, transfer and intersectoral diffusion of national advanced production technologies in increasing the efficiency of production factors in conditions of external shocks is revealed.
Olga G. Aleshina - Siberian Federal University, Krasnoyarsk, Russia