Features of agricultural financing in the context of digitalization

Natalia V. Sharapova, Ekaterina N. Yalunina, Valentina M. Sharapova and Galiya S. Ukubassova
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Natalia V. Sharapova: Ural State University of Economics
Ekaterina N. Yalunina: Ural State University of Economics
Valentina M. Sharapova: Ural State University of Economics
Galiya S. Ukubassova: Esil University

Economic Consultant, 2023, vol. 4, issue 4, 16-28

Abstract: Introduction. Digital technologies provide significant assistance in various areas of agricultural development, and financing these technologies contributes to technological progress and improves competitiveness of the agricultural sector. The study aims to substantiate the directions of financing and government regulation of implementing digitalization in the agro-industrial complex (AIC). Materials and methods. The research materials were articles in agronomy, economics, finance, and technology. The research methods were statistical analysis, comparative analysis, and document analysis. Results. Notransparent methodologies and criteria for effectiveness evaluation of investments in digital technologies in agriculture exist. Notably, not all agricultural enterprises have equal access to financing for introducing digital technologies. Analyzing the existing state policy and regulation in agricultural finance and the introduction of digital technologies is also necessary. The Russian Federation has a leading position worldwide in terms of agricultural production and land use. Despite Russia’s top positions in agricultural production, only about 5% of farming producers use the latest robotics. Conclusion. Special attention should be paid to financing the training of young specialists for agricultural organizations, including specialists with digital competencies in data processing and using digital equipment in agriculture. These measures will not only optimize costs but also increase labor productivity and improve the quality of agricultural products.

Keywords: agricultural finance; digitalization of business processes in agriculture; digital financial systems (search for similar items in EconPapers)
JEL-codes: G00 Q14 (search for similar items in EconPapers)
Date: 2023
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