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Industrial Diversification: How Can We Overcome the Barriers?

Author

Listed:
  • Tatyana V. Kulakova

    (National Research University Higher School of Economics, Moscow 101000, Russia)

  • Maria A. Moiseyeva

    (Financial Research Institute, Moscow 127006, Russia)

Abstract

The article authors dwell on the international practices gained in promoting industrial diversification. One of the key barriers that hamper the process in the emerging economies is the existence of the underdeveloped financial system backed by the vast amount of natural resources and the lack of a chain of production that could integrate the domestic hi-tech companies. As a result, the costs associated with the attraction of borrowed funds become quite high. This is especially true it you take the innovative companies that operate in the SME sector. The article authors identify the ways to form hi-tech sectors on the basis of resource-intensive sectors.

Suggested Citation

  • Tatyana V. Kulakova & Maria A. Moiseyeva, 2011. "Industrial Diversification: How Can We Overcome the Barriers?," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 1, pages 37-46, January.
    • Handle: RePEc:fru:finjrn:110103:p:37-46
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    More about this item

    Keywords

    industrial diversification; financial system; hi-tech companies; chain of production;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure

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