Title: Global and Russian nanotechnology product market development: comparison of trends and impact of sanctions

Authors: Elena Inshakova; Oleg Inshakov; Anastasia Orlova

Addresses: Department of world and regional economics, Volgograd State University, 100 Universitetsky Avenue, Volgograd 400062, Russian Federation ' Department of world and regional economics, Volgograd State University, 100 Universitetsky Avenue, Volgograd 400062, Russian Federation ' Department of world and regional economics, Volgograd State University, 100 Universitetsky Avenue, Volgograd 400062, Russian Federation

Abstract: The slowdown of Russian economy resulted from world oil price fall, sanctions introducing and ruble weakening necessitates the estimation of nanotechnology industry potential in providing economic growth. The paper is focused on comparative study of current development and trends of global and Russian nanotechnology product market with paying attention to their structural features and special properties of existing nanotechnology product database. The study contributes to the assessing of the impact of sanctions imposition on Russian innovation system and perspectives of national nanotechnology industry, considering the more and the less expected results of the import substitution policy implementation. The generalised conclusion of Russian nanotechnology industry positive but unstable dynamics has been done based on the data of growing value of product sales and exports in 2014-2015, while the rates of growth have slowed down. Existing negative political and economic situation has been estimated as a catalyst for expanding domestic market for nanotechnology products.

Keywords: impact of sanctions; nano-enabled products; nanomaterials; nanotechnology industry; nanotechnology market; nanotechnology; sanctions against Russia.

DOI: 10.1504/IJTGM.2017.086077

International Journal of Trade and Global Markets, 2017 Vol.10 No.2/3, pp.226 - 235

Received: 25 May 2016
Accepted: 10 Sep 2016
Published online: 22 Aug 2017 *

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