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Finance and Credit
 

Credit resources in the tasks of modernization of the national economy

Vol. 21, Iss. 14, APRIL 2015

PDF  Article PDF Version

Available online: 6 April 2015

Subject Heading: MONETARY ACCOMMODATION

JEL Classification: 

Pages: 2-11

Kolmykova T.S. Southwest State University, Kursk, Russian Federation
t_kolmykova@mail.ru

Sitnikova E.V. Southwest State University, Kursk, Russian Federation
0209elvira@mail.ru

Tret'yakova I.N. Southwest State University, Kursk, Russian Federation
iren_sin@list.ru

Importance Centralized resource reallocation helped keep in balance the Russian industrial system, which consists of hundreds of thousands of highly specialized companies. Abrupt transition to the market economy caused considerable difficulties that were aggravating up until the middle of 1999. Since the 2000s, the Russian economy has faced a revival, and basic macroeconomic indicators have recovered. However, despite active measures taken at various management levels, there are various factors hindering the development of the industrial sector. Therefore, we believe it is urgent to investigate the main trends and prospects for the industrial sector development, and to substantiate recommendations for improving its functionality in the current economic environment.
     Objectives The purpose of the paper is to study the role of lending in solving the tasks of the national economy modernization and to identify the main development trends of the industrial sector.
     Methods Using statistical techniques, we analyzed production indices by major economic activities of the Russian Federation, determined the structure of sources of financing investments in fixed assets, and studied the dynamics of lending by the types of economic activities.
     Results We considered the main indicators of economic development of the Russian Federation. We also analyzed the dynamics of issued loans broken down by economic activities and certain areas of the use of funds for the period of 2009-2012. The paper includes an assessment of the industrial production index behavior with a detailed analysis of the volume of all types of industrial production in Russia.
     Conclusions and Relevance We conclude that the lack of an effective national industrial and research and development base prevents innovation, as well as the transformation of innovation into products that are in demand in the world market. Therefore, a solution to these problems requires a comprehensive approach to the management of technological and structural changes of the industrial complex.

Keywords: economic development, indicators, innovation, lending

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