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Modernization is a special form of development of society, development of technology and economy is the cornerstone of modernization. However, this development is not evolutionary, but revolutionary, accompanied with rather fast institutional transformations. Besides, modernization should be considered as a problem which covers, first of all, the sphere of economy but which cannot be studied and solved without interaction practically with all directions of activity of the person and society. Modernization models taking into account mental and civilization features of Russia are analyzed. The changes connected with globalization changes in world economy and resistance to these changes of the Russian social and economic institutes are considered. Need of coordination of processes of social and economic transformations with set of informal institutes of the Russian society is emphasized. On the basis of the carried-out analysis the conclusion about existence of various ways of further economic development is drawn. Russian norms and traditions, being integrated with the chosen elements of the western institutional environment, will create conditions for sustained economic growth. Thus, transition to essentially new concept of economic development of the country will be made.

Modernization changes and economic stability of Russia during globalization of world economy