government support

Effect evaluation of the industrial policy project instruments application in the regions

Introduction. This study is devoted to the analysis of industrial policy project instruments implemented by the Russian Industrial Development Fund, from the standpoint of assessing their impact on the systemic results of the industrial development of Russian regions. Theoretical analysis. The industrial sector of the economy has historically played a key role in the socio-economic development of Russia. Given the backbone role of industry in the country’s economy, the issues of state support for industrial development are traditionally the most important on the agenda of the state’s economic policy. Established in 2014, over the past period, the Fund has demonstrated the fl exibility and adaptability of its programs to changing conditions, has provided its customers with convenient tools for concessional lending for technological modernization projects, and, in general, has become the most popular instrument of industrial policy. At the same time, the question of the strategic eff ectiveness of the Fund’s activities as a systemic institution of industrial policy, solving not only local tasks of supporting modernization projects and creating new industries, but also the tasks of industrial development and growth in general, remains open. Empirical analysis. Given that the problem of industrial development is ultimately localized at the level of the constituent entities of the Russian Federation, in this study, based on the methods of regression analysis, an assessment has been made of the impact of the Fund’s activities on the development of the manufacturing sector in the regions of Russia. The work has assessed the impact of projects implemented within the framework of the Fund’s programs on the indicators of the production index and the volume of shipment of goods, services on their own in the manufacturing industry of the region by groups of constituent entities of the Russian Federation, depending on the level of the average annual cost of investment projects implemented with the participation of the Industrial Development Fund. Results.The analysis has showed that the Fund’s current tools have a positive eff ect on the systemic growth and development of industry only up to a certain level of intensity of their use in regions with an average and low level of industrial development. As for industrialized regions, the results obtained here from the standpoint of systemic eff ects of accelerated industrial development are not obvious.

The state role in the investments development in Russia’s digital economy

Introduction. The current stage of development is characterized by widespread digitalization of almost all economy spheres. One of the key areas for the developing digital economy in the Russian Federation is investments and investment relations. The state supports and develops the investments in data-driven formation of the digital economy. The article examines some of the subjects of the country’s influence on the mechanisms for expanding the innovation investment sphere, regarding local development specifics. Theoretical analysis. There are two categories for considering government influence on investments in the digital economy – the investment climate and the country’s investment policy. The key part of the research process is a set of economic, sociological and statistical methods, as well as applied scientific analysis in digitalization field of public institutions, institutional investment and investment relations as part of the economic system. Empirical analysis. Analyzed topical aspects of state role on the investments development in a rapidly changing environment, divided them into six fundamental categories. The process is presented in the forms of activating the legislative process and the testing of regulatory “sandboxes”. The article describes the caution of the Russian Federation in choosing a supported investment industry, its type and accompanying regulatory legal acts. Results. The research shows the development aspects description chosen by the state to support investment in digital economy conditions and a fact analysis of the state methods of influence on investment relations in the context of global and country economy digitalization.