Financial instruments of providing industrial policy of big companies of the defense-industrial sector in the conditions of resource scarcity

AKSYONOV V.V.
Deputy Director General in charge of Economics and Finance, Publicly held company “Azov optical mechanics factory unit”

SYCHEV R.A.
PhD (Economics), assistant professor of the Department of Audit, Rostov State Economic University

TERRA ECONOMICUS, 2014, Vol. 12 (no. 2.2),

p. 70-79

The article considers the main financial instruments of providing industrial policy of big companies of the defense-industrial sector. Nowadays the institutional environment of large industrial companies experience changes; the new financial instruments providing development of industrial policy in Russia, for example, the Fund of development of the industry are being created. Without providing with sufficient financial resources it will be difficult to use a window of opportunities for import substitution strategy’s implementation towards the Russian enterprises. Taking it to consideration, it is necessary to support new projects of industrial enterprises on the pre-investment phase which takes from one and a half to two years. Project financing instruments of investing programs of the enterprises are necessary for implementation of effective industrial policy as well. Creation of funds of the industry development support will allow industrial enterprises attracting credit resources at the rates, comparable with foreign countries. In 2014 for import substitution strategy’s implementation the registered capital of the fund will be replenished on 20 billion rubles from the anti-recessionary fund. For the purpose of implementation of modern industrial policy the Russian enterprises need to allocate inexpensive loans for providing projects of import substitution at a pre-investment phase, and also for creation of prototypes and the project documentation.

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Keywords: financial instruments; industrial policy; companies of the defense-industrial sector; strategy of import substitution; project financing

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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606