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Economic Analysis: Theory and Practice
 

RETRACTED: The State and the investment

Retraction reason: Redundant publication. The article has been published in Journal: Link
The article retraction was innitiated by the journal editor.
Retraction date September 25, 2019

Ретракция

Vol. 14, Iss. 7, FEBRUARY 2015

Available online: 9 February 2015

Subject Heading: STRATEGY OF ECONOMIC ADVANCEMENT

JEL Classification: 

Pages: 2-8

Belyakov А.А. Adviser to commercial bank, Moscow, Russian Federation
BelyakovAA@rshb.ru

Turuev I.B. Moscow State Institute of International Relations (MGIMO University) of Ministry of Foreign Affairs of Russian Federation, Moscow, Russian Federation
ituruev@yandex.ru

The article analyzes current issues related to the efficiency of investment. The paper notes imperfection of investment in the Russian economy. The authors consider the differences between centralized government and private corporate investment, the reasons for the lack of investment from all sources. They mark the necessity of development of the domestic demand for domestic goods as an obligatory condition for the rapid growth of private investment. To accelerate growth, it is necessary to concentrate the available investment resources, including the centralized ones, on those economic areas which are able to provide the maximum increment of effective domestic demand for domestic goods. The authors specify a group of goods critical to the economy and population, which have high competitiveness and can be produced in Russia. They sure will be saleable, especially when there is an adequate credit support from the banking system. The task of the State, probably, is that, through capital investment, directed and quite extensive in nature, to eliminate the existing imbalances of the developing domestic market, and form the resource base of private investment. The State institutions, providing resources, and ordinary commercial banks should share the risks of lending the investment projects. The State must assume part of the investment risks. The authors are considering the prospects of a unified integrated system of effective national private investment through proper interaction between the Bank of Russia, institutions for development of commercial banks and the Government, a system in which every participant has a clear function and executes it perfectly.

Keywords: private investment, governance, investment project, commercial bank, effective demand, development, institutions

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