Home  Journals  Finance and Credit  4(388) - 2010 January

Risk sharing in the financing of innovative projects: European experience and its adaptability to the Russian conditions

Available online: 27 January 2010

Subject Heading: THE INNOVATIVE POLICY

JEL Classification: 

Russia's banking system, although it is not fully mature, was able to withstand the first severe blow to the global financial crisis. It showed a higher stability of the banking model of financing of investment innovation processes as compared to the stock model. The output from the lessons learned can be only one - to step up and actively use the potential of the investment banks to create an innovative economy and overcome the technological gap between Russia and the world's leading economies.
     Considering the high-risk investment in innovation and scientific development it is necessary to create risk-sharing tools for of innovative projects, using that part of the risk borne by the government, thus stimulating the development of science and innovation, and some - by the developers of innovative projects (which increases their level of commitment to performance studies) part - companies interested in using innovation as part of the banks. As the background of the concept of investment innovation authors proposed to use existing and develop new schemes of project financing.

Keywords: innovative project, risks, risk sharing, project financing, public-private partnership, the system of guarantees

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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