Import substitution in the Russian economy: prospects for domestic food production

Abstract

Purpose. Consideration of the problems of export-import relations, economic and food security of the Russian Federation in the modern crisis. Study of the essence and mechanisms for economic policy of import substitution. Analysis of the prospects of development of the domestic food industry through import substitution. Methods. In order to maintain the economic security of the Russian Federation the authors invite to increase the level of State support for domestic food production. In the medium term, this will increase the volume and improve the quality of the food to the required level, which in turn will ensure the effectiveness of substitution processes in the industry and maintaining socio-economic stability in Russia. Results. In article the essence and mechanisms of economic policy of import substitution are considered. It was determined that the import substitution is appropriate in cases where it forms the premise for the stable functioning of the economy, providing opportunities for domestic industries to improve their position in the domestic market. The article analyzes the prospects for the development of one of these segments of the economy production of canned meat in the present crisis conditions. Scientific novelty. It was revealed that during the long-term orientation towards import substitution preservation, backlog of national economy and the barriers to the development of industries-locomotives of our economy might occur. Therefore, it is important to promote import substitution in such segments of the national economy, which have significant economic and productive capacity, can independently develop and maintain the effectiveness of the national economy and economic security of the country in the long run.