EVALUATING THE EFFECTIVENESS OF USING FINANCIAL RESOURCES AIMED AT INNOVATIVE INDUSTRIALIZATION

In the new global reality, the most appropriate model for long-term development of Kazakhstan is the industrial and innovative model. The need to implement industrial and innovative development is dictated by the challenges of the XXI century, the economic imperatives of globalization. Lagging indicators such as labor productivity, which today is only 39 thousand US dollars, while this indicator in the OECD countries is on average more than 2.5 times higher. The share of manufacturing in GDP in 2017 is only 12%, while this figure in developed countries such as China is about more than 35%. In order to enter the top 30 developed countries, further development of the industrial and innovative model is required. It is no accident that in his last two messages, the President focuses on the development of new technologies, new models of digitalization, the need to accelerate the introduction of more complex products, increase the technological level, and increase the share of exports. The development of Kazakhstan's economy requires qualitative and structural changes in the economy and a shift away from its dependence on raw materials, an increase in the share of manufacturing, high-tech industries and the expansion of exports of finished products. The formation of a competitive economy requires huge financial resources that will be directed to innovative industrialization on a long-term basis. The new global reality has led to a reduction in the ability to attract funding. Lack of internal sources of financing, reduction of external sources of financing of the banking system of Kazakhstan, insufficient development of the Kazakhstan stock market significantly limit the ability to meet the needs of the real sector of the economy in financial resources.

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Ewolucja przemysłu zaawansowanej technologii i sektora teleinformatycznego (ICT) w Finlandii

Studies of the Industrial Geography Commission of the Polish Geographical Society ◽

10.24917/20801653.13.10 ◽

2009 ◽

Vol 13 ◽

pp. 122-132

Author(s):

Krzysztof Stachowiak

Keyword(s):

Information Society ◽

New Technologies ◽

Raw Materials ◽

Developed Countries ◽

The United States ◽

High Tech ◽

Forest Industry ◽

Developed Country ◽

The Past ◽

Knowledge Based Economy

The paper presents in a broad outline the main characteristics of the evolution of the Finnish high-tech industry and ICT sector within the context of general changes in industry and the national economy. In the last decades of the 20th century Finland dynamically developed a knowledge-based economy and became one of the leaders of the information society. A spectacular manifestation of this is the position of the country in global competitiveness rankings, where Finland has occupied a top position for several years, sometimes even being ahead of the United States. The so-called ‘Finnish model of information society’ is characterised, among others, by a significant growth in knowledge-intensive industries and a complex system of research and development support. However, all those changes were dependent on the previous development path of the country. The structure of Finnish industry was rather one-sided until the 1980s, when knowledge- and expertise-intensive production started to catch up with the level of manufacturing dominated by raw materials, capital and energy. For a long time, Finland specialised in the forest industry and in the processing of metals. A new sector that has developed during the past decades is electronics and, especially, the manufacturing of communication devices. Furthermore, the economy has changed more dramatically in Finland than in any other developed country over the same period of time. Industries have become technology-intensive and production is strongly characterised by specialisation. Finland has become the most specialised country in information and communication technology in the world, and this specialisation trend is continuing. The forest industry and other traditional industries rely more and more on the new technologies and state-of-the-art knowledge. In Finland, industrialisation started later than in other countries, but it was very rapid. Industrial production and exports grew faster than the rest of the economy in the 1990s, and the structure of exports diversified. Unlike other developed countries, Finland “re-industrialised” in the 1990s. The contribution of industry to the total volume of production and employment has been higher in Finland than in other advanced economies in the past couple of years.

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VICTORY TO THE METHOD OF INDICATIVE PLANNING IN THE SYSTEM OF INVESTMENT CREDITING OF ENTERPRISES

10.32782/2224-6282/162-20 ◽

2020 ◽

Author(s):

Lydiadia Kostirko ◽

◽

Alexander Rоzmyslov ◽

Keyword(s):

Commercial Banks ◽

Raw Materials ◽

Small And Medium Enterprises ◽

Banking System ◽

Financial Resources ◽

Natural State ◽

Main Task ◽

Labor Costs ◽

Investment Activity ◽

Medium Enterprises

A necessary component of investment activity is the process of accumulating the necessary funds to finance investments. The natural state of limited internal own funds of the enterprise requires the attraction of additional (external) financing in the form of loans and borrowings. Investment lending is a promising area of activity of banks, the main task of which is the allocation of financial resources for the for-mation and development of production. Solving the problem of investment lending as a real sector of the economy pursues two goals: stabilization of the banking system in the rational allocation of financial resources and economic recovery through strengthening the position of commercial banks and small and medium enterprises (by attracting credit resources). Therefore, commercial banks engaged in investment lending should constantly and carefully study and analyze the condition of partner banks, both those with whom they are already working and those who are potential partners. The essence of the normative method of planning is to use a set of norms and standards when calculating the indicators of the indicative plan. The norm is the absolute value of the maximum allowable amount of material resources (ie, raw materials, fuel), as well as the cost of living labor for the manufacture of a unit of production. Standard – a relative indicator that characterizes the degree of use of tools, objects of labor, living labor costs. Norms and standards of consumption of paid services is a system of estimating the level of consumption by one person of certain types of services, which is based on scientifically based calculations of rational consumption. At the same time, in order to make specific decisions of the bank, it is necessary to be guided by a pre-thought-out strategy based on the "goal tree" and the system of plans of a commercial bank. In tactical terms, the main standard solutions can be provided in the credit policy of the bank for the period corresponding to the term of the project. At the same time, in the world economic literature, the standard deviation is called risk and is one of the most common absolute indicators of risk measurement.

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Trends in the development of the banking system in the Far North of the Russian Federation

E3S Web of Conferences ◽

10.1051/e3sconf/202021013041 ◽

2020 ◽

Vol 210 ◽

pp. 13041

Author(s):

Lyudmila Pushkareva ◽

Mikhail Pushkarev

Keyword(s):

Russian Federation ◽

National Economy ◽

Commercial Banks ◽

Banking System ◽

Financial Resources ◽

Real Sector ◽

Political Situation ◽

Far North ◽

The Russian Federation

In this paper, the author summarizes the main problems that have to be solved by regional commercial banks and, in particular, banks in the Far North and equivalent territories in the current political situation and conditions of economic sanctions. The country's banking system is not adequate to the needs of the national economy and is unable to provide resources for the country's modernization. The ability of banks to finance the needs of the real sector is significantly constrained by the lack of long-term and cheap financial resources from the banks themselves.

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Diversification of Economy the Republics Azerbaijan on Base Sustainable Development of Non-Oil Sector

International Conference on Eurasian Economies 2018 ◽

10.36880/c10.02038 ◽

2018 ◽

Author(s):

Farhad Rahmanov ◽

Elchin Suleymanov

Keyword(s):

Sustainable Development ◽

Structural Changes ◽

New Technologies ◽

Weak Links ◽

Institutional Reforms ◽

Foreign Countries ◽

Technological Base ◽

Oil Sector

In article experience of diversification of economy of the countries which economic complex is based on production of natural resources is investigated. In the context of the problems facing economy of Azerbaijan and in comparison to foreign countries the course and results of transformations, a role of non-oil sector in development of economy, the potential of positive impacts on country modernization and barriers on the way of realization are considered. The complex of factors – new technologies, institutional reforms, structural changes which in close interference significantly strengthened action of long-term sources of the advancing growth of branches of non-oil sector and its general economy role during the considered period is analyzed. Most important parties of transformation and diversification of economy are defined: transition of branches to modern technological base, functional complication of production, integration into the global markets. Mechanisms of achievement of sustainable development of non-oil branches of economy are characterized, influence of transformations is estimated. Need of development of the concept of sustainable development of not oil sector is noted. The purpose of article is the research of foreign experience of transformation and diversification of economy and development of recommendations about improvement of mechanisms and methods of achievement of sustainable development of non-oil branches of economy of Azerbaijan. In the context of transition of Azerbaijan to a way of innovative development it is important to compare the reached parameters of the considered sphere, to reveal common features and distinctions, to define weak links and comparative advantages of Azerbaijani non-oil sector.

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Implementation of the “bail-in” mechanism in the banking system of Ukraine

Banks and Bank Systems ◽

10.21511/bbs.12(3-1).2017.11 ◽

2017 ◽

Vol 12 (3) ◽

pp. 269-282 ◽

Cited By ~ 3

Author(s):

Anzhela Kuznetsova ◽

Galyna Azarenkova ◽

Ievgeniia Olefir

Keyword(s):

Financial Stability ◽

Early Stage ◽

Comparative Method ◽

Estimation Method ◽

Banking System ◽

The European Union ◽

Subordinated Debt ◽

National Bank ◽

Internal Sources

One of the important tasks of the National Bank of Ukraine is to implement the Directive 2014/59/EU namely to introduce the “bail-in” mechanism, which will enable to resolve insolvency of banks or high probability of its occurrence at the expense of internal sources of banks in order to improve the Ukrainian banking system functioning and adapt it to the requirements and standards of the European Union. The foreign experience of the “bail-in” implementation shows that central banks succeeded in restructuring the balance sheets of banks and significantly reduced the risks of their activities. Thus, the purpose of the study is to substantiate the expediency of the “bail-in” mechanism introduction in banking system of Ukraine. The essence of the “bail-in” mechanism is the involvement of shareholders and lenders of the bank in order to restore its solvency by offsetting shareholders’ equity, subordinated debt, and/or converting/writing off other long-term unsecured and unprovided liabilities in a subordinated debt or shares of the bank. In the process of scientific research, using the comparative method, the method of analogies and methods of logical generalization and scientific abstraction, the structure of the “bail-in” mechanism is determined, which consists of methods (conversion of liabilities into capital, liabilities write-off, capital write-off), provision (normative and legal, financial, organizational and institutional, technical and technological, informational) and levers (incentives, sanctions). Using the expert estimation method, it is proposed to evaluate the effectiveness of the “bail-in” mechanism by comparing the quality of the assets of the bank prior to its implementation and after the completion of the action. The results of the study show that, firstly, the implementation of the “bail-in” mechanism in Ukraine will enable the National Bank of Ukraine to interfere with the activities of banks at an early stage of the problems and to take all necessary measures to restore their solvency. Secondly, the “bail-in” mechanism implementation in Ukraine will increase banks’ resilience to shock, crisis and contribute to long-term financial stability.

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Evaluation of long-term prospects of the structure of freight rail transportation

Vestnik of the Railway Research Institute ◽

10.21780/2223-9731-2021-80-4-233-239 ◽

2021 ◽

Vol 80 (4) ◽

pp. 233-239

Author(s):

D. A. Macheret

Keyword(s):

Structural Changes ◽

Raw Materials ◽

Qualitative Evaluation ◽

Petroleum Products ◽

Rail Transportation ◽

Economic Stability ◽

Railway Network ◽

Cycle Economy ◽

Traffic Volumes

The most important business of the domestic railway industry is freight transportation, which decisively affects the financial and economic stability and efficiency of the Russian railways. Successful activities in the field of rail freight transport are determined by both the volume and the structure of these transportations. In the long term perspective, there is a risk of a reduction in the freight base of railways due to the global paradigm of decarbonization of the economy, as well as the implementation of a “circular economy”, which assumes a continuous cycle of material processing with close to 100% utilization of products that have completed their life cycle and the use of appropriate materials for the production of new products. Reducing the consumption of coal, oil and petroleum products in the course of decarbonization will lead to a corresponding reduction in the volume of their transportation by rail, and the implementation of the “closed cycle economy” — to a reduction in the transportation of non‑hydrocarbon raw materials, which also occupies a significant share in rail transportation. Taking into account the noted trends, the article provides an expert categorization of goods transported by rail by the level of long‑term prospects. All freights are divided into four categories: non‑promising, low‑promising, promising and highly promising. Based on the proposed categorization with the use of retrospective data on rock loading of freights on railway transport, a significant change in the structure of loading was revealed in terms of its long‑term prospects. For a generalized evaluation of the level of long‑term prospects of the loading structure, a new indicator is proposed — an indicator of long‑term prospects of loading. Its retrospective analysis was carried out. The results of the analysis are given a qualitative evaluation based on the developed scale of zonal values of this indicator. The necessity of solving the problem of timely replacement of freights, the traffic volumes of which will decrease in the future due to structural changes, with freights with a higher level of long‑term prospects, has been substantiated. The target structure of freight loading on the railway network is proposed and the time horizon on which it is desirable to achieve it is substantiated. The directions for the development of research on this topic have been determined.

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Recycling of Polymers – An Opportunity or a Threat to the Economy?

E3S Web of Conferences ◽

10.1051/e3sconf/202016101058 ◽

2020 ◽

Vol 161 ◽

pp. 01058

Author(s):

Alfira Khaertdinova ◽

Dilbar Sultanova ◽

Dinara Iskhakova ◽

Albert Karimov

Keyword(s):

New Technologies ◽

Developed Countries ◽

High Tech ◽

Recycling Process ◽

Russian Economy ◽

Production And Consumption ◽

Rapid Pace ◽

Polymer Industry ◽

Further Development ◽

Current Reality

Products of the polymer industry today are everywhere. They have penetrated both our daily life and the development of high-tech industries. In the current reality, new technologies are developing at a rapid pace and pose new challenges to the polymer industry. However, with the growth of production and consumption of plastics, the problem of recycling waste from the polymer industry has gradually become more acute. This article analyzes the production of plastics, their utilization and assesses the prospects for further development of the industry in developed countries. Separately, the issues of solving these problems in Europe are studied as a model of managing the recycling process and possible borrowing the experience for the Russian economy.

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FINANCE FOR DEVELOPMENT

The APPEA Journal ◽

10.1071/aj78021 ◽

1979 ◽

Vol 19 (1) ◽

pp. 202

Author(s):

B.L. Hamley

Keyword(s):

Interest Rates ◽

Capital Investment ◽

Raw Materials ◽

Banking System ◽

Capital Requirements ◽

Balance Of Payments ◽

Local Participation ◽

Domestic Savings ◽

The Relationship

Australia's development capital requirements cannot be solely financed from domestic savings but need to be supplemented by overseas capital. Thus there should be no impediments to the inflow of overseas funds and variable deposit ratio controls (currently suspended) should be abolished.Overseas capital inflow is important for the balance of payments, as imports of capital goods are likely to rise during the developmental stage of large resource projects. Exports in subsequent years will provide the funds for amortization of borrowings.However the Australian capital markets can still provide for adequate local participation and funding. In particular, Australian banks have a capacity to finance our share of large projects, but it will be argued that a less controlled banking system will improve its long term ability in this regard.As a consequence the relationship between money supply management and interest rates will be discussed.Overall the capital needs of structural change will be reviewed with the conclusion that Australia is already turning its attention to capital investment in areas of comparative advantage - resource development, particularly beneficiation of raw materials.

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Beautiful renewable energy

Impact ◽

10.21820/23987073.2019.10.39 ◽

2019 ◽

Vol 2019 (10) ◽

pp. 39-41

Author(s):

Hinako Kawakami ◽

Yasumitsu Matsuo

Keyword(s):

Fuel Cell ◽

Global Economy ◽

Fossil Fuels ◽

New Technologies ◽

Raw Materials ◽

Waste Products ◽

Sustainable Resources ◽

Green Architecture ◽

Working Together

As the world's consumption of non-renewable fuels continues to grow, so do the associated problems. Coal, gas and nuclear are all on the rise with each presenting significant environmental problems. The fossil fuels contribute to global warming through CO2 emissions as well as polluting the environment through particulates and waste products. Nuclear energy, whilst cleaner, still produces significant and long-term dangerous waste products. In addition, the raw materials are finite and will be exhausted sometime this century. The battle to develop effective clean alternatives is one of the key fights that will come to define the 21st century. The process will require considerable innovation and greater effort by business and state to improve the situation. Many researchers are working towards a myriad of different solutions that, together, could form the basis for re-gearing the global economy towards the use of renewable and sustainable resources and fuels. One such alternative is the fuel cell and variations of this. A fuel cell harnesses the energy released when hydrogen combines with oxygen to form water to produce electricity. Its inputs are cheap and readily available whilst its outputs are completely clean. In order to effectively assimilate new technologies such as these, it is necessary to consider how this technology can be applied and integrated into modern life. Doing so will allow new technologies to be adopted and employed far quicker after development. Two researchers from Setsunan University, Japan are working together to make cheap and renewable fuel cells that can be integrated directly into new, green architecture.

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Structure of Technological Dynamics and Economic Growth of Russia

Federalism ◽

10.21686/2073-1051-2020-4-5-25 ◽

2020 ◽

pp. 5-25

Author(s):

O. S. Sukharev

Keyword(s):

Economic Growth ◽

Structural Changes ◽

New Technologies ◽

Technological Development ◽

Russian Economy ◽

Technological Structure ◽

Innovative Products ◽

Technological Modernization ◽

Technological Effectiveness

The slowdown in Russia’s economic growth to the “covid crisis”, as well as the possibility of restoring growth and forming a new model of it, are associated with the need to overcome structural constraints. Moreover, the plans for the recovery of the Russian economy note the need not only for a stimulating macroeconomic policy, but also for the implementation of structural changes through technological renewal. However, technological modernization is highly dependent on the existing mode of technological development – the current and future demand for new technologies. The implementation of the country’s technological development strategy requires an assessment of the existing technological structure with a measurement of its reaction to ongoing investments in support of obsolete and emergence of new technologies. Different sectors of the economy and its regions, having a different set of technologies and their structure, show a different level of manufacturability, which is understood as the ratio of the volume of innovative to non-innovative products. The sensitivity of this parameter to investments in new and outdated technologies is also different, which cannot be taken into account in the formation of investment and technological development policies for both individual regions and Russia as a whole. Using structural and regression analysis, this study provides a picture of the structure of the technological Russian economy. It is shown that technological modernization also involves the movement of resources in the sectoral and regional context in order to eliminate structural and technological imbalances in development. Investment policy should be reduced not only to increasing investments, but also to managing their structure in conjunction with replacing old technologies in order to level and improve the overall manufacturability. This will require solving the promising problem of increasing the sensitivity of manufacturability to investments in new technologies. In the long term, this approach will make it possible to single out the modes of regional technological development, not only ranking regions in terms of sensitivity to new and old technologies, but also developing a selective set of regional policy measures.Keywords: “covid crisis”, economic growth, industrialization, investments, structural changes, structural dynamics, technologies, technological effectiveness of the regional economy.

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