The author argues that state ownership, support, and regulation are essential to modernization of the Russian economy based on innovation and advanced technology.rnUnder current conditions it can be said that Russian society is entering a new stage of its development. Having lived through far-reaching socioeconomic reforms, then passing through a period of economic and social stabilization, Russia must embark upon that process of all-sided renewal and transformation that scholars and the country's leadership call modernization.
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