Igonina L.L.Financial University under Government of Russian Federation (Krasnodar branch), Krasnodar, Russian Federation LLIgonina@fa.ru
Importance Implementation of current challenges of socio-economic development of Russia in conditions of increasing financial constraints determines the need to enhance bank's participation in investment process. In this context, researching the role of banks in investment in fixed assets financing becomes relevant. Objectives The purpose of this work is to identify the role of banks in the financial support for investments in fixed assets at the present stage of Russian economy development and to justify the key areas of growth in investment lending to the real sector of the economy. Methods In this paper, I investigated various aspects of the banking sector's operations in investment process financing using the methods of situational, comparative, financial and economic-mathematical analyses. With the help of econometric techniques, I analyzed the influence of increase in bank loans granted to non-financial organizations with over one-year maturity, on investment increment in fixed capital in the Russian Federation for 2000-2013. Results I revealed a downward trend in the share of loans to non-financial organizations in the total volume of loans, as well as in the share of investment loans in total loans to organizations with over one-year maturity. I also uncovered barriers to stepping-up bank investments in fixed assets, and justified the key areas of investment lending growth. The results of the study may serve as a theoretical and methodological framework to work out programs for developing investment loans to Russian banks. Conclusions and Relevance I conclude about reduction in banks contribution to the growth of investment in fixed assets. I have formulated proposals related to building resource potential, improving the quality and scope of banks' capital, and lowering investment and credit risks. This will facilitate the growth of investment lending and enhance the role of banks in financing investments in fixed assets.
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