Innovation Economy for Russia
By Dr. Dmitry Orlov, Member of the RIA Novosti Expert Council
Some experts describe the Russian economy as “an extended raw materials model”, while others claim Russia is “an energy superpower”.
In my opinion, both definitions are true, but one describes the current economic structure, in which energy revenues are mostly accumulated and used, and only partly invested in long-term development. The other is an aspiration.
Contrary to the fears of Russia’s eastern neighbors, the aim of turning Russia into an energy superpower does not imply Russia’s non-commercial domination of the oil and gas export sectors, although its influence there will definitely grow considerably. An energy superpower differs from a raw materials supplier in that it turns oil and gas into innovation. (more…)
