Real Sector Of Russian Economy Research Articles

The Role of Small Manufacturing Enterprises in Innovation Development of the Real Sector of Economy: Economic and Statistical Study

The aim of the economic and statistical study presented by the authors is the evaluation of the role of small manufacturing enterprises in innovation development of real sector of Russian economy. Compared to developed countries, Russia is characterized by a relatively low innovative activity of small industrial enterprises, as well as by their smaller contribution to employment and to the increase of living standards of the population. At the same time, small industrial enterprises have the highest potential for innovation growth, especially in high-tech economic activities. The similarity of small enterprises’ definition in Russia and in the European Union, the magnitude of innovative activity of small enterprises in Europe, and the development of instruments to support innovative companies make studying the European experience in stimulating the innovative activity of small enterprises in the real sector of the economy in order to adapt it to domestic practice relevant.The authors reveal the potential areas of innovative activity growth for small manufacturing enterprises on the basis of foreign experience as well as develop recommendations on support for small entrepreneurship in industrial sector. The research is based on Community Innovation Survey (CIS), national reports of European countries on the topic, the federal statistical surveys № 4 and № 2-MP provided by the Federal State Statistics Service.The study revealed key drivers of European small enterprises’ innovative activity: well-developed cooperation with other organizations, substantial investment in R&D, broad coverage of small business enterprises with support measures. Best European practices of small enterprises’ innovative activity and the analysis of the main barriers of Russian small enterprises’ innovative activity allowed to define the promising directions for supporting small business the real sector of economy of Russia: developing modernization programmes for enterprises, extending the access to borrowed financial sources, developing cooperation ties between small business enterprises. The authors highlighted growth points of innovative activity of small manufacturing enterprises that can be taken into account while developing support measures in order to increase small business’ innovative activity, create new jobs and provide population employment.

Localization of the production: international experience and imperatives of russia in the conditions of sanctions regime

This article is dedicated to the study of production localization problem which became especially topical in conditions of new challenges characterized by the unprecedented strengthening of sanctions regime towards Russian economy and predetermining the necessity to create national manufacturing chains of full cycle, reconfiguration of the sectoral policies, transformation of business models in context of strategic goals of the import substitution. The purpose of the article is to generalize and evaluate international experience of localization of production, as well as to analyze the state of this process in the branches of the Russian manufacturing sector, which since 2014 has been under the action of the blocking and sectoral sanctions of the collective West. In the research process, a complex of general scientific methods was used, including: analytical, logical, monographic, interpretation, synthesis, as well as a method of graphical visualization. Methodological base of the study includes the set of classical and neo-classical concepts of the spatial organization of the economy, theory of innovative growth and cluster development. Fragmentary overview of production localization international experience is given. We have carried out analysis of mechanisms of the state industrial policy, contributing to the problems solution of the localization and import substitution, taking into account strategic priorities of Russia. The advantages of localization in practice of special investment contract (SPIC) conclusion were systematized. Its sectorial features in automotive industry, power engineering industry and aircraft building were stated. We have made a conclusion about the necessity of forming of effective localization strategy, overcoming of declarative character of import substitution in the key spheres of real sector of Russian economy which will help to solve the problems of national security provision and technological independence. Practical significance of the results of the study consists in the possibility of its use in the sphere of program and project management and development of strategies of national and regional levels development.

The Trends and Prospects of Leasing Development as a Relevant Financial Tool of Investments in the Southern Regions of Russia

Leasing owing to the unique economic essence is considered to be a booster for economic, innovation and investment business activity of any level. In the conditions of competition, economic subjects are constantly in search of innovative approaches to business operations and effective distribution of financial resources. This determines the demand for leasing as an efficient way to make investments into business. The relevance of the research regarding prospects of leasing development at the regional level does not raise doubts as the issue of sources of new investments into the real sector of Russian economy is particularly urgent today. Consequently, one of the ways to solve this issue is to apply new financial instruments of production, investment leasing in particular. In modern Russian economy the real investments can be raised by means of leasing which are quite necessary for modernization of fixed assets in various branches, including those in the most vulnerable links of the Russian economy. This paper presents the results of analyzing a tendency and features of leasing market development on the national and regional levels. The authors have given an assessment of investment climate in the Southern regions and systemized the factors on the basis of which both the general risks and the specific regional risks are marked out. As a result of assessing the experience of leasing functioning, some regional features have been revealed, drivers and development prospects of the leasing mechanism in the southern regions hev been defined. Furthermore, the positive approaches which should be put into practice have been revealed. Some points of growth ahave been defined in various segments of business based on the influencing support factors. As examples of growth drivers we can consider auto leasing, leasing of agricultural machinery, operating leasing, leasing for individuals and a financial supermarket. On the basis of generalization of possible ways that we can use to develop the regional leasing market there are directions to improve the realization of leasing mechanism on the regional level which can be used in practice.

The Role of Bank Credit in Financing of the Economic Growth in Russia

The aim of the study is to identify solutions of the problems of the real sector of Russian economy, associated with its financing and lending for economic growth. These include low growth of industrial production, irrational structure of exports and imports, high degree of depreciation of fixed assets, lack of volumes and growth rate of investments in their renovation. According to the materials of the official bodies of state power of Russia, the analysis of the main declared objectives and methods of achieving high rates of economic growth was carried out. Based on the study of relevant statistical information, there were identified the main sources for financing of economic development and the necessity of their extension. Special attention was paid to trends in bank lending of the real sector.