Industrial Development Fund Research Articles

Research on Financial Support for Innovation and Integration of Military and Civil Industries

The development of military civilian integration can realize the cross domain allocation of financial resources and optimize the allocation efficiency of national financial resources. The theoretical explanation of military civilian integration is to lead the civilian with the military and promote the military with the civilian, which is conducive to the development of cutting-edge technology, the industrialization of cutting-edge technology and the diffusion of advanced technology. Promoting the army by the people is beneficial for military enterprises to make use of civilian technology, capital and market, play the role of scale economy, reduce costs and improve efficiency. The financing mode of military civilian industry integration includes industrial development fund, bank credit and asset-backed bond. The integration of military and civilian needs to establish the capital formation mechanism guided by the government and led by the market, the coordination mechanism of innovation subjects and the operation mechanism of innovation projects. From the experience of international military and civil industry integration and innovation, it is concluded that the financial support of China's military and civil industry integration and innovation needs to establish a diversified financing system in which the government guides market participation, and at the same time, to play an important role in Internet finance.

Theoretical, Institutional and Ethical Basis for Implementing Modern Industrial Policy. Part II

The article demonstrates the states growing responsibility in making management decision in the context of the world and national economies’ unstable development. Industrial policy is one of the key instruments for implementing managerial decisions. We identified the notions of industrial policy (in a broad sense) and structural policy. Further, we classified concepts of industrial policy according to the scale of regulation subject and the states role in economy. The appearance of a network aspect of industrial policy focused on the concept of digital state (e-state) was noted. 200 years of industrial policy’s evolution demonstrate its constantly growing obligation to be the guarantee of social welfare. Nevertheless, in Russia legal understanding of industrial policy does not include any aspects of social guarantees. Therefore, we analyzed industrial policy theoretical foundations showing the necessity for its reconstruction using a theory of new structural economics. We established premises and tools for the theory’s successful realization. Industrial Development Fund plays an important role in implementing industrial policy’s priorities as a variety of important programs including “Industry digitalization†are financed by this organization. On the level of regional economics, different regional funds are involved in the process of structural transformations.

PROSPECTS FOR THE APPLICATION OF DISTRIBUTED LEDGER TECHNOLOGY TO IMPROVE FINANCING OF START-UP (JAPAN EXPERIENCE)

A project on the use of distributed registry technology to improve funding for start-ups in Japan has been considered. The project is based on the application of distributed registry technology, smart contracts, a big database of start-ups credit risk (in Japan CRDS), a local investment fund, a unified marketing and trading platform. The model of investor behavior (taking into account risk and profitability) has made it possible to show, that with growing investor confidence (individuals and households) and a certain level of profitability of startups, investing in startups will be more preferable, than a bank deposit. The features of the project have been highlighted and a conclusion has been made, that under certain conditions, the adduced scheme for financing start-ups can be used in Russia, for example, by the Industry Development Fund.

전시컨벤션산업 육성재원 조성에 관한 연구 - MICE산업 육성펀드를 중심으로 -

전시컨벤션산업 육성재원 조성에 관한 연구 - MICE산업 육성펀드를 중심으로 -

Polysaccharides from Mushroom Fruiting Bodies Improve Insulin Resistance by Inhibiting Lipid Deposition Via Autophagy Enhancement

Insulin resistance is the main cause of type 2 diabetes. Polysaccharide is one of the main active components in mushrooms and has been reported that certain mushroom polysaccharides have beneficial effects against type 2 diabetes. However, the structural features and mechanisms of polysaccharides with hypoglycemic activity have not been elucidated. In this paper, six alkali-soluble total polysaccharides, six neutral polysaccharides and six acidic polysaccharides were extracted and purified from mushrooms fruiting bodies of different species. The effects of these polysaccharides on improving insulin resistance were compared using high fatty acids and glucose-induced hepatocytes. Among them, the neutral polysaccharide AAMP-N of Armillaria mellea fruiting body showed the most significant activity, suggesting that galactoglucan is the main active domain. AAMP-N inhibited intracellular fat accumulation and enhanced insulin sensitivity by activating autophagy. Autophagy is an essential lysosomal degradation pathway implicated in the development of type 2 diabetes. Consistent with the in vitro results, AAMP-N enhanced hepatic autophagy, lowered blood glucose, and modulated lipid metabolism in db/db mice. In addition, AAMP-N also protected damaged pancreatic islets in mice. Our results demonstrated for the first time a role of natural polysaccharides from mushrooms in the improvement of insulin sensitivity and metabolism, and provided basis for the development of mushroom polysaccharides as hypoglycemic healthy food. Funding Statement: This work was supported by National Natural Science Foundation of China (No. 31872674), Jilin Province Pharmaceutical Industry Development Fund (No. 20180311068YY), Jilin Province Development and Reform Commission (2018C047-2), and Fundamental Research Funds for the Central Universities (No. 2412017FZ018). Declaration of Interests: The authors have declared no conflicts of interest. Ethics Approval Statement: All experiments were performed in accordance with the Guide for the Care and Use of Laboratory Animals of Northeast Normal University.

Promotion of the Business Activity in Modern Russia: Successful Practices

The subject of the research is the practice of boosting the business activity in the medium-sized and small businesses in the domestic economy. The purpose of the research was to assess the effectiveness of financial and non-financial tools for supporting the business activity in the modern domestic economy. It is shown that the inefficiency of the Russian financial market is mitigated by the state through the formation of an institutional business-friendly environment and development institutions such as the Industrial Development Fund, the SME Corporation, the Russian Export Center, etc. The paper pays special attention to the assessment of the project related to the development of high-tech medium-sized companies — “National Champions”. It is concluded that in the modern domestic economy of the recent years the business vector tends to shift towards the preferential use of non-financial tools for supporting business activities.

Industrial Policy Priorities of Russia in the Context of Challenges of the Fourth Industrial Revolution. Part 2

The article emphasizes the relevance of the digital economy development as one of the most important directions of the fourth industrial revolution. It is significant for a breakthrough in science and technology, social and economic development. I prove that the industrial policy is a reliable instrument for supporting digital economy. The following factors define the priorities of industrial policy: the level of socio-economic development of the country, the existing model of economic development, an image of the country’s future. I consider the evolution of the industrial policy priorities in Russia. In current situation, the essentially new priority is the support of digital economy. I find that pro-active digital economy formulation and management in collaboration of all branches of the government as well as the development of digital economy together with sector programmes and programmes of innovative development, etc. are of great importance. I have suggested steps, which could make the Industry Development Fund to support the new priorities connected with digital economy development. Furthermore, I have developed proposals on adjusting provisions, which define the possibility to apply special investment contracts for stimulating the digital economy development. I have defined the main directions of staffing the digital economy. The article emphasizes that «digital transformation of the industry» radically changes the idea targets and subjects of industrial policy. So-called related industries, as the association of goods, individuals, and technologies within the industrial system, the structures based on such special type of business models as technological platforms and the human needs become a new targets of the industrial policy. During the fourth industrial revolution, a system of interaction between federal and regional authorities and various business associations as well as civil society institutions becomes the main subject of industrial policy. This predetermines a multi-actor character of the industrial policy. The requirements to leaders of the state and business structures have increased. Therefore, their responsibility for preventing negative social and ethical consequences of the implementation of new technology solutions.

ИСТОРИЯ ЦЕНТРАЛЬНЫХ БАНКОВ РОССИИ КАК ИНСТИТУТОВ РАЗВИТИЯ (1860-1991 гг.)

The activities of the central bank of Russia for the period since 1860 for 1991 has deen analyzed. It was concluded that the author concludes that the state banks of Russia both during the Russian Empire and after 1917 in addition to the special func-tions of central banks, constantly implemented the functions of development banks. It was suggested using this historical experience to accelerate economic growth in Rus-sia. It is proposed to expand the funding of existing (Vneshekonombank, the Industri-al Development Fund) and new development institutions by issuing and selling bonds. Using the experience of international multilateral banks in selecting and supporting investment projects will improve the eciency of Russian development institutions.

Main Import Substitution Policy Methods and Approaches in the Russian Oil and Gas Complex

Ускоренное технологическое развитие отечественных отраслей промышленности с возможностью конкуренции с зарубежными аналогами остается актуальным в связи с рассеявшимися надеждами на отмену санкций. В настоящее время в Российской Федерации реализуются различные программы и схемы финансирования, способствующие эффективному применению стратегии импортозамещения при одновременном участии государства и частного сектора на партнерских началах. Раскрываются способы, позволяющие государству стимулировать этот процесс; приводится ряд примеров из практики функционирования Фонда развития промышленности; приведены некоторые результаты финансирования процесса импортозамещения. Дан прогноз вероятностного сценария развития событий, наиболее благоприятных для продолжения процесса импортозамещения в газовой отрасли России и совершенствования методов управления им. Экономическая целесообразность этого вопроса однозначна в связи с национальной безопасностью. Однако проблема возможности замещения импортной продукции отечественными аналогами имеет много аспектов и включает в себя необходимость защиты внутреннего рынка от иностранной конкуренции, необходимость повышения уровня качества продукции отечественных предприятий, а также сложность выхода на новые рынки и многое другое. Одной из задач импортозамещения является снижение скрытого импорта и зависимости российского экспорта от закупаемых за рубежом компонентов. Затрагивается вопрос о месте и роли инноваций в создании конкурентоспособности как на внутренних, так и на внешних рынках. Цель, поставленная авторами в данном исследовании, - определить основные показатели импортозамещения, проанализировать полный перечень методов и подходов для их достижения и оценить их результативность.

Employees Perception of Training and Its Relationship with Organizational Commitment among the Employees Working at Saudi Industrial Development Fund

The aim of this study is to examine employees perception of training provided by Saudi Industrial Development Fund (SIDF) and its relationship with organizational commitment. To achieve this aim, the study utilized a questionnaire consists of two validated, well established, international instruments: the first one is the perceived availability of training developed by Newman et al., (2011) and includes 22-item inventory that measures an individual on the training, the second instrument called commitment scale developed by Allen and Meyer, (1996) and includes 18-item inventory to identify a person’s commitment. This questionnaire has been distributed to a simple random sample consist of (200) employees of Saudi Industrial Development Fund. A total of (175) complete questionnaires has been received back at a response rate of (87%). After analyzing data and testing hypotheses, the main results of this study are:• There is a positive relationship between five training-related variables and affective commitment.• There is a positive relationship between two training-related variables (the perceived availability of training and perceived supervisor support for training) and two commitment-related variables (continuance and normative commitment).• There is a negative relationship between perceived co-worker support for training and two commitment-related variables (continuance and normative commitment).• There is no relationship between two training-related variables (the perceived benefits of training and motivation to learn) and two commitment-related variables (continuance and normative commitment).

IMPORT SUBSTITUTION IN RUSSIA AS DEVELOPMENT FACTOR IN GLOBAL CHALLENGES PERIOD OF 2017–2019

Purpose : objectives of research: 1) Justification of a new role of import-substituting strategy as factor of large-scale import-substituting industrial revolution in the Russian Federation, an economic development driving force; 2) Confirmation of expediency of complex synergetic innovative tools of state support on decrease in import technology dependence of the Russian Federation, increase in dynamics of industry growth, technological potential and export of technologies; 3) The proof of progressiveness of scaling of import substitution as new key strategy of Russia development taking into account the best international experience, public and private initiatives and risks of import substitution. Methods: the methodology of the work is based on a modeling of scenarios, analysis of open statistical sources, projections and calculations, forecasting methods. Results: on the basis of the analysis of statistics a positive assessment is given to methodologically progressive instruments and mechanisms of realization of strategy of import substitution in the Russian Federation with the proved or potential efficiency taking into account national specifics. New national advantages and benefits of overcoming the degrading consumer market in Russia in 2014–2015 are shown. Processes of transformation and creation of the new national market on the basis of import substitution are described. The forecast of achievement of planned targets for import substitution programs in the Russian Federation on condition of further total economy modernization for import substitution is developed. conclusions and relevance : the statistics of large-scale revolutionary transition of the enterprises of the Russian Federation to a full cycle of production instead of the short technological chains which have taken roots in the last 20 years is collected. The problems and risks which are slowing down progress in import substitution in the Russian Federation are revealed. The role of RAS as chief scientific expert of the Russian Federation in realization of policy of import substitution is noted. The methodology of state support from the Industry Development Fund and Rostec is estimated. Strong advantages of a regional component of the state program approach in import substitution are revealed. Methods of strengthening of regional industrial competences and their global marketing as state support instruments are revealed.

STRENGTHENING THE ROLE OF DEVELOPMENT INSTITUTIONS IN THE BANKING PROJECT FINANCING

Topic. Currently, the particular relevance gains questions associated with the expansion of the amount of funding of investment projects, which are characterized by a high level of social and infrastructural importance to the national economy. It will also provide sustainable economic growth and diversification of the economy in the long term. In this regard, it actualizes the importance of development institutions, whose activities are aimed at overcoming ‘market failures’, to encourage the private investment by banks, and infrastructure development with use of mechanisms of state-private partnership. Purpose. The purpose of this work is an attempt to reveal the key importance of institutions and instruments of project financing in the implementation of the strategy of industrial and innovative development of the modern state. Methodology. To conduct the study there were used general scientific methods and techniques: methods of scientific abstraction, analogy, analysis, synthesis and comparison, the system-structural approach to the analysis of the research subject. Results. In the proof of the formation of the market of project financing, it was described in the dynamics its status and structure. There were identified issues, risks, and directions of development of the domestic market for stimulation of interest of banking organizations. Along with the traditional services provided to the borrower under the project financing, the attention is focused on the development of the Russian banking practice of promising areas (syndicated loans, mezzanine and bridge financing). Conclusions. We state the necessity of actualization of the mechanism of state-private partnership, particularly the role of development institutions. It has been proved the perspectivity of activities carried out at present by Industry Development Fund and State Corporation “Vnesheconombank”, namely: run the system of ‘one window’, the formation of the state information system of industry, development of the model of regional development funds for industry, an organization of banking syndicated loans, improvement of database management, launching operation of the “Factory of project financing”. The totality of the identified events will provide a permanent modernization of the Russian industry, and, along with the development of the banking sector with unique technology and knowledge, liquid and profitable assets.

KEY INSTRUMENTS OF THE NEW RUSSIAN INDUSTRIAL POLICY

The article is devoted to main instruments of the new Russian industrial policy and import substitution industrialization, which is a determinant factor for Russian industry development in current economic conditions. The article is concerned with historical parallels of import substitution industrialization and comprehensive application of its principles, translating it into an economic forecast for the key Russian industries. In this connection, the Industry Development Fund plays a crucial role as the top structural element of the new industrial policy.

Russian pipe industry 2014: review of current situation, problems and future prospects

Pipe industry is one of the most perspective sectors of Russian industry: steel pipes are products with high added value and are widely used both in constructing industry and in construction of oil and gas pipelines. However in the period of financial instability it is necessary to ensure the effective demand from industries – consumers of pipe products. The paper, firstly, presents a brief overview of the production and consumption of pipe products in Russia in 2013–2014., as well as current trends in the pipe industry. Secondly, it describes the position of Russian enterprises producing pipe rolling in the world and the Customs Union markets , in terms of their competitiveness. The analysis of the market and its main competitors allows to conclude that Russia has the necessary potential for the development of the industry and strengthening its position stronger in the market . The article also mentions the existing and potential large-scale oil and gas projects which have a direct impact on the industry in the country and provides additional opportunities for exports. There are formulated the internal and external negative factors and problems and their solutions, which have already been implemented or still need to be taken. Analysis is based on statistics published by the non-profit organization «Pipe Industry Development Fund» and on figures presented in the Development Strategy of Russia’s steel industry for 2014 – 2020 and up to 2030, approved by the Ministry of Industry and Trade of the Russian Federation dated May 5, 2014 No. 839. The study showed a certain effectiveness of Russian companies producing steel tubes, but at the same time it highlightes the need to improve the strategy of the Russian Federation in the pipe industry and stresses the necessity to implement specific measures aimed at improving its competitiveness. The study provide specific statistical data and presents a complete picture of the current state of the Russian pipe industry and the possibilities of its development.

Political Activity over Industry Development Fund of Chosun Chamber of Commerce under the rule of Japanese imperialism

Political Activity over Industry Development Fund of Chosun Chamber of Commerce under the rule of Japanese imperialism

Protein turnover during pregnancy

The response of whole body protein turnover in sows to increasing dietary threonine (THR) during pregnancy was determined using continuous oral delivery of L[1‐13C]phenylalanine (PHE) in six multiparous sows. Pregnancy (115 d) was divided into early (35 to 53 d) and late (93 to 110 d) gestation. Sows received diets with 4.9 ‐ 16.1 gd−1 THR. Blood was sampled every 30 min for 4 h. Data was analyzed with a nonlinear Mixed model.In early pregnancy, THR intake did not affect protein turnover. However, when expressed as a percent of flux, protein synthesis increased (R2=0.84) and PHE oxidation decreased (R2=0.79) at THR intakes below the dietary requirement. In late pregnancy, PHE oxidation decreased (R2=0.40) and protein synthesis increased (R2=0.40) linearly. The THR requirement based on protein synthesis in early pregnancy was 2‐fold lower (6.0 gd−1) than in late pregnancy (>14.0 gd−1). There was no difference between early and late pregnancy in total protein breakdown (p=0.27, 44.1 ± 2.2 vs 46.2 ± 2.3 gd−1, respectively) and PHE flux (p=0.12, 57.0 ± 2.5 vs 60.0 ± 2.6 gd−1, respectively). However, PHE flux/kg BW was higher in early pregnancy compared to late pregnancy (82.2 ± 2.1 vs 71.2 ± 2.2 gd−1, respectively, p=0.0001).Funding: AB Pork, ON Pork, AB Livestock Industry Development Fund, ACAAF, Ajinomoto.

Threonine requirement increases in late pregnancy

The metabolism in early pregnancy focuses on development of maternal body tissue. In late pregnancy fetal, and mammary growth increases the demand for nutrients. This change in metabolic focus is hypothesized to result in a higher requirement for amino acids during late pregnancy (3rd trimester) compared to early pregnancy (1st trimester). The threonine (THR) requirement was determined using the indicator amino acid (IAA) oxidation method in six multiparous sows. Sows received diets ranging from 60 to 150 % of the current recommended THR intake of 10 gd−1 based on BW, expected pregnancy gain and litter size. L[1‐13C]phenylalanine was given orally in 8 ½‐hourly meals as IAA and expired 13CO2 was quantified. Data was analyzed with a nonlinear Mixed model. Sow BW gain and reproductive performance was similar to commercial standards. There was a 2 fold difference in THR requirement. The THR requirement in early pregnancy was no more than 6.1 gd−1 (R2=0.56) and in late pregnancy no less than 13.6 gd−1 (R2=0.59). The THR requirement of the sow is substantially higher in late pregnancy than currently recommended. Nutritional regimes in pregnancy should account for changes in AA requirement to reduce the risk of overfeeding AA in early pregnancy and underfeeding AA in late pregnancy.Funding: AB Pork, ON Pork, AB Livestock Industry Development Fund, ACAAF, Ajinomoto Heartland.

POLÍTICAS DE CONCENTRAÇÃO OU DESCONCENTRAÇÃO INDUSTRIAL NO TERRITÓRIO CEARENSE

The discussion about industry-attracting policies by means of financial incentives has become present in all states in northeast. In the state of Ceara this practice has become frequent both regarding the attraction of industries from other states and the distribution process of such industries in the state of Ceara’s geographical space. The policies implemented through the Ceara’s Industrial Development Fund – FDI – have been trying to decentralize the industry from the districts of the Fortaleza Metropolitan Region (RMF) to the interior of the state, however, this has not happened, since that with FDI-I 71.1% of the investments were concentrated in RMF and only 28.9% in the Interior. In FDI – II there was a slight increase of the concentration of the investments in RMF with 72.4% against 27.6% in the interior. With FDI-III the concentration of the investments increases to 76.6% in RMF against 23.4% in the interior of the state. It’s worth to mention that in this period there was an increase in the number of companies across the state, however the policies implemented by the FDIs in search of the decentralization of the investment from the RMF to the interior of the state turned out to concentrate even more. Key-Words: Decentralization; Industry; Ceara

Mission accomplished? An evaluation of the impact of EFTA's industrial development fund on Portugal

The European Free Trade Association's Industrial Development Fund for Portugal completed its operations in 2002 after 25 years of contribution to the country's economic evolution. During this period, the Fund approved almost 1,750 preferential loans worth over 789 million euros, which in turn generated some 3 billion euros of overall investment. This article evaluates the role of the IDF by focussing upon the difficulties associated with creating jobs and developing the human resource base through vocational training schemes. It shows that the Fund's financial activity was spatially channelled mainly towards Portugal's western coastal margin, and remained biased in favour of the country's traditional manufacturing industries. It critiques the validity of such a focus on process and evaluates the spatial efficacy inherent in promoting a scheme that appears to work to the detriment of disadvantaged interior regions, instead of achieving its goal of equitably distributing funds throughout the country.

Trade and Industry Minister Leif Pagrotsky on the flexible strength of the Swedish Model

Executive Overview As Sweden's Minister of Trade and Industry-Leif Pagrotsky has in his portfolio, among other authorities and agencies, the Swedish Industrial Development Fund, the Invest in Sweden Agency, the Swedish Business Development Agency, and other organizations that implement policy according to government goals for economic, cultural, and social development. Mr. Pagrotsky's views on government's role in encouraging economic, social, and cultural development are not uncontroversial. He suggests that the perception of a “welfare state as rigid and complacent” does not fit the Swedish model. He argues that respectable levels of social security are a source of vitality in Sweden. The effects of achieving it ripple though all parts of Swedish economic, political, and cultural life—from technology, to science, to business, to music, to cuisine—making Sweden, and its only 9 million residents, a unique competitive and productive force in the global arena. He points to Sweden's remarkable record of low ...