THE ROLE OF FINANCIAL AND CREDIT TOOLS IN OPTIMIZATION OF AGRARIAN POLICY

Abstract

Nowadays, in conditions of tough restrictive policy regarding tariffs and quotas for agricultural products, the government agrarian policy should support import substitution and domestic agricultural products in the retail trade system. The article analyzes the works of Russian economists on problems of state regulation of agro-industrial complex (AIC) and describes theoretical and methodological approaches relevant for the categorical apparatus of agrarian policy. Based on the study of modern interpretations of the term «agrarian policy», the author’s definition of this category is formulated. Also, the author examines its concept, structure and types. The author points out the importance of optimizing the methods of conducting financial and credit policy in the country’s agricultural sector. In this connection, modern interpretations of the categories «credit instruments’ and «financial and credit instruments’ are considered, an author’s definition of the term «financial and credit tools for the agro-industrial complex» is suggested. With the aim to determine the correlation and compare the indicators of financial support for the AIC, the OECD figures showing support of agricultural producers are given. The definition of «state support of the agro-industrial complex» is formulated, and within the framework of state regulation of the agro-industrial complex (indirect support), a potential scheme for the functioning of the vine-growing agricultural holdings in the Republic of Dagestan was developed, and the settlement mechanism of European-type vineyards call options was suggested for the Derbent sparkling wine factory (DZIV). The economic efficiency of futures contracts concluded between suppliers and processors of raw materials is proved. The work confirms the efficiency of monitoring the costs for raw materials purchase as it enables to reduce the aggregate costs of DZIV finished products. It points out the economic expediency and discusses the forms of internal and external futures contracts pertaining on the purchase of raw materials in the Republic of Dagestan (RF) and abroad. The author addresses methodological issues, namely, the need to introduce a mechanism for renting premises on preferential terms for small businesses involved in processing of agricultural raw materials in the Republic of Dagestan (RF) for a period of up to three years. The paper economically substantiates the effectiveness of supporting small-scale processing enterprises in the region, as they are the most adapted to the changes in the market situation.