 System of distributive project financing in RussiaОрганизация распределенного финансирования проектов в РоссииBelyaev, Sergey (Беляев, Сергей) ()
Voprosy upravleniya / Management Issues, 2019, 107-113 Abstract: Problem. As of today, project financing in Russia is not widespread enough. This is due to the low share of bank loans in the investment structure. However, it is necessary to talk about project financing. The classic scheme of such application is project financing in individual cases, but we should not forget that this scheme is characterized by an investment project. In accordance with this, the project is financed according to the project. Loans are repaid at the expense of the profit received during the implementation and delivery of the finished investment project. However, it is quite difficult to determine the volume of the Russian market for investment projects, since the project itself is associated with attracting foreign investment. The lack of development of the project finance system is due to the fact that different financial instruments are used separately from each other when implementing the project. In particular, this is due to the lack of quality consulting services for the transaction. Scientific problem. The analysis of the study is based on the study of project financing features in terms of the impact of macroeconomic and microeconomic factors in the context of unstable development of the economic and investment sector. Methodological base of the study. The study uses statistical methods of estimation, economic analysis, and meta-comparison of the dynamics of changes in the main indicators. The article provides a justification for project financing of capital-intensive projects in Russia and the need for their distribution financing. The possibilities of the state in applying distributive financing at the stage of development and implementation of new and existing investment projects are investigated. The mechanism of distributive financing of investment projects is presented Database of the research: scientific proceedings, monographs, articles, Internet resources. In his research V. N. [3] proposed a structural scheme of the project financing in Russia, which contains the main actors and elements of project financing. Minayeva E. V. [6] defines project financing as peculiarity of the financial distribution in the framework of project implementation and says in this case the risks are more transferred to the lender. Main results of the study. Medium and large businesses have difficulty finding the resources needed to capitalize on their own business. Borrowing through bank loans is about 10-12%. Public investments remain ineffective because the mechanism for organizing and implementing investment projects involves inappropriate use of incoming budget investments. The imperfection of the legislative system and the high level of financial risks in Russia creates a certain barrier for foreign investors. In accordance with this, foreign investments can be considered as investments that are speculative in nature. These problems create “negative conditions” for financing the country's economy. Implementation of large investment projects is impossible without attracting third-party investment. In accordance with this, the development of a mechanism for distributing financial flows for project financing in Russia will increase the economic growth of domestic enterprises and ensure the inflow of additional investments into the country's economy. Keywords: project financing; distributive project financing; project financing distribution; project implementation in finance distribution; project financing organization; problems of project financing of investment projects in the Russian Federation (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:rnp:mngiss:m19610 Ordering information: This journal article can be ordered from Access Statistics for this article Voprosy upravleniya / Management Issues is currently edited by Natalia Chevtaeva More articles in Voprosy upravleniya / Management Issues from Russian Presidential Academy of National Economy and Public Administration Contact information at EDIRC. |
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