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Import Substitution Concept in Russian Service Industry under Globalization of World Economy



K.B. Kostin
kost_kos@mail.ru
professor, the Department of World Economy and International Economic Relations, St. Petersburg State University of Economics, Doctor of Economics, Associate Professor
St. Petersburg

Keywords:

  • globalization
  • service industry
  • import substitution
  • export structure
  • world economy
  • integration
  • economic policy
  • We consider ways of solving one of the major problems of the national economic policy of the Russian Federation under progressing globalization, namely, import substitution in the service industry. The modern trends and import substitution strategies in the service industry are analyzed; we also pay attention to the factors contributing to the growth of Russian exports in this segment. Relevant up-to-date data on Russian import and export dynamics in the service sphere is provided. We present the forecast of export potential of Russian services and consider the opportunities and prospects of the world economy globalization.

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