Changing priorities of Russia's industrial policy and mechanisms for their implementation in the 21st century: Results and development prospects

Subject. This article discusses the priorities, tools and mechanisms of industrial policy of the Russian Federation in the context of modern macroeconomic challenges. Objectives. The study aims to analyze the effectiveness of the industrial policy mechanism implementation in Russia, and form directions for its development in the current conditions of the economy. Methods. For the study, we used methods of logical analysis, as well as data collection and systematization. Results. The article analyzes the stages of industrial policy implementation in Russia in the 20–21st centuries. It also considers the pros and cons of the practice of applying industrial policy mechanisms in Russia over the past two decades, and reveals the prospects of their development in the context of the sovereign economy formation. Conclusions. The formation of effective industrial development institutions is an important condition for the growth of the State's competitiveness in the global market.