Evaluating the performance of the industrial development fund in the macro-region – the Ural Federal District

Abstract

Subject. The article is devoted to the Industrial Development Fund and its program "Digitalization of Industry". The Fund has a significant impact on the technological transformation of industry and improvements in the efficiency of industrial production. Objectives. The aim is to analyze the economic efficiency of the Industrial Development Fund in the context of investment projects in the territory of subjects of the Ural Federal District. Methods. The study employs methods of theoretical analysis of issues related to effective functioning of the Industrial Development Fund. The analysis of obtained results rests on statistical processing of information. We applied structural-functional, comparative, economic, statistical, and integrated approaches to assess the effectiveness of investment projects of enterprises operating in the Ural Federal District that were supported by the Industrial Development Fund. Results. We considered the role of the Industrial Development Fund as an effective tool of industrial policy and improvement of labor productivity in industrial production, revealed actual aspects of the Fund's activities in subjects of the Ural Federal District. The paper defines promising areas for the Fund's development from the perspective of innovation and investment-driven development of industrial enterprises and introduction of technological innovations in production. Conclusions. Effective long-term industrial and investment policy of the State is implemented on the basis of formation and successful use of dedicated State funds for the development of industry.