National projects as an adaptation mechanism of financial interaction between the state and corporations
https://doi.org/10.35854/1998-1627-2022-2-140-146
Abstract
Aim. The presented study aims to assess the prospects for the participation of the corporate sector in achieving the target indicators of national project implementation in the context of increased volatility and to provide practical recommendations for realizing such opportunities.
Tasks. The authors analyze the dynamics of the Russian private infrastructure investment market; investigate trends related to the investment climate and the advantages of monitoring and controlling the implementation of national projects using a project management information system; identify obstacles to attracting private capital in national projects; propose solutions that can have a positive impact, expanding the boundaries of financial interaction between the public and corporate finance sectors.
Methods. This study uses a dialectical systems approach and general scientific methods. The analysis is based on the international scientometric database Scopus and the bibliographic database of the Russian Science Citation Index (RSCI).
Results. The authors substantiate the need to attract private capital as one of the most important elements of national project efficiency and formulate practical recommendations for realizing the potential of the corporate sector within the framework of financial cooperation with the state in the implementation of national projects. Business involvement can positively influence both the target indicators and the rate of economic growth and development in general.
Conclusions. Based on a study of financial interaction between the state and corporate finance, the authors identify obstacles to attracting private capital in national projects. Furthermore, based on the identified opportunities for financial interaction, solutions are proposed that can have a positive impact, expanding the boundaries of financial interaction between the public and corporate finance sectors.
About the Authors
Yu. V. LudinovaRussian Federation
Yuliya V. Ludinova, DSci, PhD in Economics, Associate Professor, Head-Chief of Design Management — Design Office
20 Novgorodskaya Str. (Business Complex "Nevskaya ratusha"), St. Petersburg 191144
A. Yu. Rumyantseva
Russian Federation
Anna Yu. Rumyantseva, PhD in Economics, Associate Professor, Vice-Rector for Research and International Affairs, Associate Professor of the Department of International Finance and Accounting
44A Lermontovskiy Ave., St. Petersburg 190103
O. A. Tarutko
Russian Federation
Olga A. Tarutko, PhD in Economics, Associate Professor of the Department of International Finance and Accounting
44A Lermontovskiy Ave., St. Petersburg 190103
References
1. On the national goals and strategic objectives of the development of the Russian Federation for the period up to 2024. Decree of the President of the Russian Federation of May 7, 2018 No. 204. URL: https://base.garant.ru/71937200/ (accessed on 13.12.2021). (In Russ.).
2. On the national development goals of the Russian Federation for the period up to 2030. Decree of the President of the Russian Federation of July 21, 2020 No. 474. URL: https://www.garant.ru/products/ipo/prime/doc/74304210/ (accessed on 13.12.2021). (In Russ.).
3. On the organization of project activities in the Government of the Russian Federation. Decree of the Government of the Russian Federation of October 31, 2018 No. 1288. URL: http://www.consultant.ru/document/cons_doc_LAW_310151/ (accessed on 13.12.2021). (In Russ.).
4. About the Round Table “The role of business in the implementation of Russia’s national projects”. NRU HSE. Apr. 11, 2019. URL: https://www.hse.ru/busgov/news/264216825.html (accessed on 13.12.2021). (In Russ.).
5. Rumyantseva A., Sintsova E., Tarutko O., Vaganov V. Corporate financial control transformation in the conditions of digitalization. In: 3rd Int. sci. and pract. conf. “Digital economy and finances” (ISPC-DEF 2020). Dordrecht: Atlantis Press; 2020:157-160. (Advances in Economics, Business and Management Research. Vol. 137). DOI: 10.2991/aebmr.k.200423.034
6. Investments of the Russian Federation and the world in the development of infrastructure. ROSINFRA. URL: https://rosinfra.ru/digest/investment (accessed on 13.12.2021). (In Russ.).
7. Investment in infrastructure and PPP: Analytical review. 2021. Moscow: National Center for Public Private Partnership; 2021. 51 p. URL: https://rosinfra.ru/files/analytic/440/document/e61d39a50693cd9432bda434a8c13319.pdf (accessed on 13.12.2021). (In Russ.).
8. Russia in numbers: Brief stat. coll. Moscow: Rosstat; 2021. 275 p. (In Russ.).
9. The state. Federal State Statistics Service. URL: https://rosstat.gov.ru/folder/11191 (accessed on 13.12.2021). (In Russ.).
10. On the organization of project activities in the executive bodies of state power of St. Petersburg. Decree of the Government of St. Petersburg dated September 2, 2019 No. 591. URL: http://www.consultant.ru/cons/cgi/online.cgi?req=doc&base=SPB&n=216721#njdtTrSqYZIAg74m (accessed on 13.12.2021). (In Russ.).
11. On the Council for strategic development and project activities in St. Petersburg. Decree of the Governor of St. Petersburg dated July 23, 2019 No. 38-pg. URL: http://www.consultant.ru/cons/cgi/online.cgi?req=doc&base=SPB&n=215151&dst=100001#B1KtTrSe4EK21FR81 (accessed on 13.12.2021). (In Russ.).
12. Vdovin I.A., Venglinskiy D.R. The problem of raising private investments in national projects. Biznes. Obshchestvo. Vlast’. 2020;(2-3).74-86. (In Russ.).
13. Presenting the results of the Russian regional investment climate index. Roscongress. June 04, 2021. URL: https://www.roscongress.org/sessions/spief-2021-prezentatsiya-rezultatovnatsionalnogo-reytinga-sostoyaniya-investitsionnogo-klimata-v-subektakh-ros/discussion/ (accessed on 13.12.2021). (In Russ.).
14. Gradinar’ A.A., Tarut’ko O.A. The mechanism of financial interaction between the state and corporate finance in the context of digitalization. In: Digital economy and finance. Proc. 3rd Int. sci.-pract. conf. St. Petersburg: Asterion; 2020:65-68. (In Russ.).
Review
For citations:
Ludinova Yu.V., Rumyantseva A.Yu., Tarutko O.A. National projects as an adaptation mechanism of financial interaction between the state and corporations. Economics and Management. 2022;28(2):140–146. (In Russ.) https://doi.org/10.35854/1998-1627-2022-2-140-146