Institutional Traps and Externalities of Sustainable Development of the Mining Country in Transition to Digital and Knowledge Economy

Abstract

The content, boundaries, development vector and expected results of the sustainable development policy today rightfully belong to one of the most debated issues in the scientific community. The imperative of solving the critical problem of replacing the dominant world order based on the extraction of mineral raw materials carries the risk of increasing economic isolationism. This threatens to eliminate the economics of extracting products from technological production chains that meet the needs of modern consumers around the world, and the loss of technological identity of the industry. For the transition of an economy with a developed commodity sector to the path of sustainable development, modernization of industry on a new technological basis is required and saturation of the domestic market with environmentally friendly production requires, on the one hand, the import of technologies, and on the other, significant “environmental technologies connected” investments. Therefore, sustainable development should be both a goal and, at the same time, the result of a new industrialization of the economy, cannot set itself the goal of enhancing isolation from the global raw materials market.