Implementation of the National Reindustrialization Policy in the Countries of the Eurasian Economic Union

Abstract

The current stage of development of Eurasian Economic Union (EAEU) countries indicates that these states are being forced not only to reindustrialize, but to industrialize their economies almost from scratch, since their industries, for known political reasons, were completely destroyed or are technologically obsolete. This article investigates innovative factors in the development of reindustrialization processes in the countries of the EAEU based on the development and implementation of targeted national policy. The study puts forward a hypothesis about the existence of a dependence between the rates of innovative development of countries, on the one hand, and foreign direct investment and research and development (R&D) expenditures, as well as trends in industrial production development, on the other, as a summary indicator of the reindustrialization of the national economy. To confirm the hypothesis, the following methods were used: statistical analysis, which allowed the primary processing of data that describe the dynamics of indicators of innovative development of countries and its factors, and a comparative analysis of the innovative development of the countries of the EAEU, which constitute the object of this study. The first part provides a sequential analysis of changes in specific indicators describing the innovative development of the countries under consideration, as well as factors that, according to the hypothesis, have a significant impact on it, thereby enabling the evaluation of the general trends in the dynamics of innovative processes within the selected object of this study. In the second part, through the establishment of correlations between the factors and results of the innovative development of countries, measures are proposed to improve the national policy of innovative development and reindustrialization.