The Analysis of Social Wellbeing Indicators in the Context of Russian Economy Structural Changes

Abstract

At present time the issues of Russian economy neo-industrialization are extremely important as well as social wellbeing growth. In major extent Russian economy structural transformation touches its investment, banking, innovation systems and labor market. These structural changes must be directed to restoring industry on a new technological base. But it is impossible to modernize industry without combinatorial innovative development of its key sectors with following development of high-tech productions using convergent technologies. The ultimate public goal of neo-industrial changes of economy is a growth of social wellbeing, so the study of its technological, financial and managerial components must be accompanied by social indicators of neo-industrialization analysis. Commonly used indicators of social wellbeing do not demonstrate connections between life quality and the level of industrial technologies, investments and structural changes caused by scientific and technical progress and globalization. Therefore it is necessary to analyze different factors and indictors of social wellbeing, connected with investment in new technologies and industry upgrading, the influence of these processes on labor market. Such analysis must help to estimate the whole picture of the influence of Russian economic reforms on social wellbeing.

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