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Комплементарные Институты Финансирования Региональной Экономики // Complementary Institutions For Funding Regional Economies

Author

Listed:
  • G. Korovin B.

    (Institute of Economics, Ural Branch of RAS.)

  • E. Krokhina A.

    (Institute of Economics, Ural Branch of RAS.)

  • Г. Коровин Б.

    (Институт экономики УРО РАН.)

  • Е. Крохина А.

    (Институт экономики УРО РАН.)

Abstract
With long-term funding resources unavailable, the real sector of the domestic economy is deprived of the opportunity to boost the investment activity. The structure of the investment sources shows the predominant role of the banking system and budgetary funding in this process. The large-scale goals of the domestic economy, along with the needs of the new industrialization, require not only implementation of large investment projects but also the use of new approaches to the monetary policy as well as the improvement of basic and complementary institutions for funding the real sector of the economy. It is the development of complementary institutions that can substantially increase the investing effectiveness. With this purpose the paper examines regional banking structures and non-bank funding institutions. The research methods included the institutional analysis, the structural and dynamic analysis of the Bank of Russia data and regional statistics. It is determined that the Russian economy needs more regional institutions, particularly regional banking networks and government structures, to support the real sector. Their advantages are the ability to take into account the specifics of regional businesses, knowledge of customers, flexibility, efficiency in decision-making, individual approach, the ability to establish partnership relations and neutralize possible shortcomings of federal institutions. At the same time, it is confirmed that the regional banking network in Russia tends to shrink due to tightening of laws introduced and violation of competition rules by large banks. The effects of low activity in the sphere of lending to small and medium-sized businesses related to restrictions in capitalization of regional banks, slow capital accumulation rates as well as the limited access to the interbank lending market and the CBR refinancing system have been revealed. The paper determines the complementary nature and role of the emerging system of state institutions for funding the real sector of the economy. It is noted that today these institutions do not possess significant resources, are poorly coordinated and lack a strict system of performance indices. The role of the regional business support infrastructure being established in a number of industrial regions is assessed based on the data of the Sverdlovsk Region as a traditional industrial region of the Russian Federation. Реальный сектор отечественной экономики в условиях недоступности долгосрочных финансовых ресурсов не получает возможности активизировать инвестиционную деятельность. Структура источников инвестиций показывает определяющее значение в этом процессе банковской системы и бюджетного финансирования. Масштабные цели отечественной экономики, потребности новой индустриализации предполагают не только реализацию крупных инвестиционных проектов, но и использование новых подходов к денежно-кредитной политике, совершенствование базовых и комплементарных институтов финансирования реального сектора экономики. Мы считаем, что развитие именно комплементарных, т. е. дополняющих институтов, способно существенно повысить результативность инвестиционного развития. В статье в качестве такого рода институтов рассмотрены региональные банковские структуры и институты финансирования небанковского характера. Методический аппарат исследования составили институциональный анализ, структурный и динамический анализ данных Банка России, региональной статистики. Определено, что экономика России нуждается в расширении системы региональных институтов поддержки реального сектора экономики, в частности сети региональных банков и государственных структур. Их преимущества заключаются в способности учитывать специфику регионального бизнеса, проявлять знание клиентуры, гибкость, оперативность в принятии решений, индивидуальный подход, способность к установлению партнерских отношений, нейтрализации недостатков государственных институтов федерального уровня. Вместе с тем подтверждено, что в России происходит сокращение региональной банковской сети из-за ужесточения вводимых в действие нормативов и искажения условий конкуренции со стороны крупных банков. Выявлены эффекты низкой активности в сфере кредитования малого и среднего бизнеса, связанные с ограничением капитализации региональных банков, низкими темпами накопления капитала, ограниченностью доступа на рынок межбанковского кредитования и к системе рефинансирования ЦБ РФ. Определен комплементарный характер и дополняющая роль складывающейся системы государственных институтов финансирования реального сектора экономики. Отмечено, что на данный момент эти институты не обладают значительными ресурсами, слабо скоординированы и не имеют строгой системы показателей оценки их эффективности. Роль формирующейся в ряде промышленных регионов региональной инфраструктуры поддержки бизнеса оценена на основе данных Свердловской области как традиционного индустриального региона РФ.

Suggested Citation

  • G. Korovin B. & E. Krokhina A. & Г. Коровин Б. & Е. Крохина А., 2017. "Комплементарные Институты Финансирования Региональной Экономики // Complementary Institutions For Funding Regional Economies," Финансы: теория и практика/Finance: Theory and Practice // Finance: Theory and Practice, ФГОБУВО Финансовый университет при Правительстве Российской Федерации // Financial University under The Government of Russian Federation, vol. 21(4), pages 30-39.
    • Handle: RePEc:scn:financ:y:2017:i:4:p:30-39
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    References listed on IDEAS

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    1. John B Taylor, 2009. "The Need to Return to a Monetary Framework," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 44(2), pages 63-72.
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