State-owned enterprises: Modern theoretical discourse and Russian practice

Purpose: to clarify and substantiate the role of state-owned enterprises (SOEs) as tools for implementing strategic priorities of the state’s economic policy according to the concept of new state capitalism.
Methods: the study uses a methodological approach grounded in the theoretical framework of new state capitalism and incorporates techniques such as statistical data analysis and scientific generalization.
Results: the article examines changes in modern state economic activity and proposes using SOEs as policy instruments. The analysis shows increased interest in developing new forms of state-business collaboration and hybrid corporate structures. By studying the national project "Effective and Competitive Economy," the study clarifies SOEs' role in advancing strategic goals related to Russia's stock market growth. The main findings include evaluating evolution key directions of market forms of state economic practices and defining SOEs' role in meeting national development priorities.
Conclusions and Relevance: global economic transformations require more flexible approaches than those traditionally associated with state intervention. Modern challenges demand adaptable regulatory frameworks rather than static corrections to market failures. Current shifts are best aligned with the tenets of state capitalism, which are already being integrated into Russia's legislative framework. Although SOEs act as pivotal mechanisms for enacting state economic strategies, they remain heavily influenced by administrative directives from state shareholders. Therefore, reforming their governance structure becomes essential to better reconcile the interests of both parties.

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