+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
National Interests: Priorities and Security
 

The tools of government support for exports of power-generating equipment

Vol. 10, Iss. 39, OCTOBER 2014

Available online: 14 October 2014

Subject Heading: Priorities of Russia

JEL Classification: 

Pages: 2-13

Matyushok V.M. Peoples' Friendship University of Russia, Moscow, Russian Federation
vmatyushok@mail.ru

Zhukov V.S. Peoples' Friendship University of Russia, Moscow, Russian Federation
vzhukoff@mail.ru

The authors point out that in the foreign practice, exports crediting and insuring the foreign trade transactions and loans against political, economic and other risks are widely used for the State support of the exports. The specialized entities, export credit agencies (ECA), provide the similar services to promote the national producers. The paper considers that the increased State support is one of the most important directions of the development of the domestic exports of power-generating equipment. The authors identified three stages of the government programs of the exports support in modern Russia. The article shows that in most cases, the budget for crediting the foreign customers or the execution of the early Russian obligations under the exports credit is not being fully performed. Its actual use of the exports support program specifically pertaining to provide the State guarantees to the exporters rarely exceeds one-third of the key performance indicators. The authors point out that in recent years there has been a steady decline in the share of lending to the foreign governments for the development of the power industry, which lowers the demand for the domestic power engineering production. The article deals with the structure and dynamics of the Russian exports of power-generating equipment, and the main problems related to its implementation abroad: weak State support (departure of the actual values from the planned ones), the ineffectiveness of the used instruments of exports support, the low level of the production capacity utilization. The paper provides the basic tools to support the exports of industrial products, which are used in foreign countries, and assesses the Chinese experience of the successful government support for exports of industrial products. The authors substantiate the necessity of improving the tools used by the government departments responsible for implementing the support programs for the export of the Russian national industrial products.

Keywords: exports support, power engineering, electric-power industry, power-generating machinery, exports credit agencies, concessional lending

References:

  1. Kiseleva E., Semenov A. Vneshekonombank udocheril Roseksimbank [Vnesheconombank adopted Roseximbank]. Available at: Link. (In Russ.)
  2. Makarov Yu.N., Khrustalev E.Yu., Slavyanov A.S. Strakhovanie kak instrument stimulirovaniya innovatsionnoi i investitsionnoi deyatel'nosti v raketno-kosmicheskoi promyshlennosti [Insurance as a tool to stimulate the innovation and investment activities in the rocket and space industry]. Finansy i kredit – Finance and credit, 2012, no. 16, pp. 25–32.
  3. General guidance on export finance and export credit insurance. Vnesheconombank, 2013. Available at: Link. (In Russ.)
  4. Postolenko M.L. Vneshneekonomicheskaya deyatel'nost' v Rossiiskoi Federatsii: upravlenie, organizatsiya, regulirovanie i kontrol' [Foreign economic trade activities in the Russian Federation: management, organization, administration and control]. Moscow, PAIMS Publ., 1994, 190 p.
  5. Savchenko P.V. Natsional'naya ekonomika [The National Economy]. Moscow, Ekonomist" Publ., 2005, 731 p.
  6. The average annual production capacity of the organizations to produce certain products of extractive and manufacturing industries. Federal Service of State Statistics. Available at: Link. (In Russ.)
  7. Khrustalev E.Yu. Finansovo-ekonomicheskaya znachimost' i riskovost' naukoemkikh innovatsionnykh proektov [Financial and economic importance and risk exposure of the knowledge-based innovation projects]. Finansovaya analitika: problemy i resheniya – Financial analytics: science and experience, 2013, no. 8, pp. 2–11.
  8. Khrustalev E.Yu., Sokolov N.A., Khrustalev O.E. Kontseptsiya otsenki i upravleniya riskom pri realizatsii innovatsionnykh proektov sozdaniya intellektual'noi produktsii [The concept of risk assessment and management in the implementation of innovation projects to create intellectual products]. Ekonomicheskii analiz: teoriya i praktika – Economic analysis: theory and practice, 2013, no. 44, pp. 2–13.
  9. Khrustalev E.Yu., Strel'nikova I.A. Metodologiya kachestvennogo upravleniya investitsionnymi riskami na promyshlennykh predpriyatiyakh [A methodology of the qualitative management of risk investment in the industrial enterprises]. Ekonomicheskii analiz: teoriya i praktika – Economic analysis: theory and practice, 2011, no. 4, pp. 16–23.
  10. Khrustalev E.Yu., Strel'nikova I.A. Finansovye metody snizheniya riska pri sozdanii naukoemkoi i vysokotekhnologichnoi produktsii [Financial risk mitigation techniques in creating knowledge-based and high-tech products]. Finansy i kredit – Finance and credit, 2011, no. 7, pp. 13–21.
  11. A Financial Pioneer That Serves National Strategy – How CDB supports economic and social development. Available at: Link.
  12. Arrangement on Officially Supported Export Credits, 15 January 2014. Organization for Economic Cooperation and Development. Available at: Link1.
  13. Bank Credit Report: Export-Import Bank of China. Available at: Link.
  14. Berne Union: 2013. The Annual Report. Available at: Link.
  15. Board of Governors of the Federal Reserve System. Available at: Link.
  16. Brautigam D. Chinese Development Aid in Africa. What, where, why, and how much. Available at: Link.
  17. CDB helping Chinese firms get global edge. Available at: Link.
  18. China Development Bank grabs chance for aggressive global loan expansion. South China Morning Post. Available at: Link.
  19. China in Africa. A strategic overview. Available at: Link.
  20. Chinese Government Concessional Loan and Preferential Export Buyer’s Credit. The Export-Import Bank of China. Available at: Link.
  21. Competitiveness Reports. U.S. Ex-Im Bank. Available at: Link.
  22. Hensengerth O. Interatcion of Chinese Institutions with His Governments in Dam Construction. Available at: Link/ANES-8E5DH6/$FILE/DP%203.2001.pdf.
  23. Innovative Financial Services to Promote Common Development. Comments of CDB Chairman Chen Yuan on Exploration and Practice African Businesses. Available at: Link.
  24. Pending and Approved Transactions. U.S. Ex-Im Bank. Available at: Link.
  25. Reauthorization of the Export-Import Bank: Issues and Policy Options for Congress. CRS Report for Congress, May 7, 2012. Available at: Link.
  26. The New Eight-Point Plan China Pledged at the Fourth, FOCAC Ministerial Conference, November 2009. Available at: Link.
  27. The New Great Walls. A guide to China's overseas dam industry. Available at: Link.
  28. U.S. Exports Support a Record 11.3 Million Jobs in 2013. U.S. Ex-Im Bank. Available at: Link.
  29. Undue Diligence: How banks do business with corrupt regimes. Global Witness Report, March, 2009. Available at: Link.
  30. ZTE – 2011. The Annual Report. Available at: Link.
  31. ZTE Guns for Alcatel With Development Bank Funds: China Credit. Bloomberg. Available at: Link.

View all articles of issue

 

ISSN 2311-875X (Online)
ISSN 2073-2872 (Print)

Journal current issue

Vol. 20, Iss. 4
April 2024

Archive