Forms and Methods of State Financial and Credit Support for Investment and Innovative Development of the Economy Cover Image

Форми і методи державної фінансової та кредитної підтримки інвестиційно-інноваційного розвитку економіки
Forms and Methods of State Financial and Credit Support for Investment and Innovative Development of the Economy

Author(s): Halyna Palchevych, Larisa Petrenko
Subject(s): Economy, National Economy, Economic policy, Financial Markets, Public Finances, Socio-Economic Research
Published by: Центральноукраїнський національний технічний університет
Keywords: investments; innovations; investment project; budget financing; credit support; subsidy for implementation of investment projects; funds of the state regional development fund;

Summary/Abstract: The purpose of the article is to study the forms and methods of state financial and credit support for investment and innovative development in the context of transformational changes in the economy and social sphere.The state investment projects are implemented by the state investment into objects of state ownership with the use of the state capital investments and/or the loans (loans) attracted by the state or under the state guarantees. In the modern economy, the role of the State as a direct investor is preserved for basic life-supporting industries and the social sphere, which are unattractive for private capital, as well as for industries of important State importance. The state according to the legislation of Ukraine, provides direct budgetary financing of scientific and scientific and technical activity which is divided into basic and program and target.The possibility of using state budget funds to finance investment and innovation projects is limited due to a significant budget deficit. Subvents from the state budget to local budgets for implementation of investment projects (programs) are provided exclusively for creation, growth or renewal of fixed funds of the communal form of ownership and are directed to the introduction of energy and resource-saving technologies; Construction and reconstruction of social and cultural facilities; Development of road and public utilities; Implementation of environmental and environmental activities.An important instrument of the State policy of financing investment and innovative development is the creation of a State fund for regional development, the funds of which are directed to the implementation of investment programs and projects for regional development (including cooperation projects and voluntary unification of territorial communities) aimed at the development of the regions. In order to intensify innovation activities in the regions, it is necessary to ensure adequate financing from the State Fund for Regional Development of Investment Regional Programmes and Projects with a concentration of funds on the creation of infrastructure for industrial and innovative parks, ensuring balanced development of the regions and modernization of social, production, transport and engineering infrastructure. An important instrument for enhancing investment and innovation development is state investment lending, the implementation of which takes place in the form of preferential innovation credit, consumer state credit, tax investment credit, state lending of investment projects, state investment lending of economic entities.

  • Issue Year: 2019
  • Issue No: 3 (36)
  • Page Range: 172-182
  • Page Count: 11
  • Language: Ukrainian