Technology-Innovative Special Economic Zones in Russia: Lessons from China

Abstract

The article is devoted to the problems of Special Economic Zones (SEZs) in Russia. These zones are not special enough to result in a major foreign direct investment inflow, which is a prerequisite for economic modernisation.It is noted that the Russian innovation policy is concentrated on technological development; however, today some 60% of the country’s GDP is formed by services. Therefore, service-oriented innovations are expected to create economic impact. In this regard without the participation of the world’s leading innovating companies, innovation reform will remain a political exercise. The authors are confident that the mobilisation of the private sector’s R&D expenditure is key in modernising Russia’s natural resource-based economy.