MODERNIZATION OF RUSSIAN ECONOMY BASED ON integration into the world trading community

In terms of Russia’s accession to the World trade organization, the problem of modernization of the Russian economy, and assessing the benefits and negative effects of this process has recently become more important. In the present article we have analyzed various aspects of Russia’s accession to the World trade organization, its negative and positive advantages and disadvantages. The author has determined the directions of modernization of the Russian economy in view of the participation in the WTO, which consist in transferring from the resource model of economic development to innovation one by means of increasing the competitiveness of national companies and establishing the favorable conditions for the foreign investments into the country.

the World trade organization, economics modernization, raw material model of economic development, economic integration, world markets, socially-oriented model of development, national companies, investment climate, foreign investments, world economics