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Thinking about capitalism, innovation and dynamics in Post-Soviet Russia

Thinking about capitalism, innovation and dynamics in Post-Soviet Russia

Journal of Institutional studies, , Vol. 6 (no.4),
p. 32-50

The paper is the extended critique of Kornai’s «theory of propensity to innovate» and contains hypothesis explaining why the Post-Soviet Russian economic system is non-innovative. Authors show that proposed by Kornai opposition «innovative capitalism/non-innovative socialism» is far-fetched. Contrary to Kornai, we can find innovative achievements in the Soviet socialist system as well as in the mixed capitalist systems with elements of socialism, in particular, with (indicative) centralized planning (China, India). Just the reverse, emerged in contemporary Russia economic system of «family-clannish capitalism» discourages agents’ incentives to the account of their decisions’ longterm consequences. The Russian households and firms underestimate their future and suffer from «investor myopia». Acted as the opponents to Kornai and based on the principle of historicism the authors emphasize the problem of specific place of Russia in the international division of scientific labor. They suppose that benefits from cooperation in the development activity should offset cost of specialization in the research work. The main ideas of the paper are confirmed by the large quantity of empirical stuff.

Keywords: innovation; creative destruction; capitalism; family-clannish capitalism; economy of Russia

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