IDEAS home Printed from https://ideas.repec.org/a/scn/financ/y2018i3p64-83.html
   My bibliography  Save this article

Финансирование Развития: Решение Структурно-Распределительной Задачи // Development Financing: The Solution Of The Structural-Distributive Problem

Author

Listed:
  • O. Sukharev S.

    (Market Economy Institute, Russian Academy of Sciences)

  • О. Сухарев С.

    (Институт проблем рынка, Российская академия наук)

Abstract

The article examines the process of allocation of financial resources in various areas of economic development. We analysed the impact of financing on the growth of existing activities and the emergence of new sectors of the economy that have been absent so far, for example, knowledge-intensive industries.Evaluation of the results of the distribution of financial resources between the existing economic activities, old and new combinations, and the impact of this distribution on the development of the economic system.As a basis of the study we applied Neo-Schumpeterian theory of economic development, which sees development as the emergence of new combinations. The principle of “creative destruction” describes the diversion of financial resources from old to new combinations. Most of the models used to describe economic development follow the logic of this principle. However, the emergence of a new resource (or sector, kind of activity) and a combinatorial effect make a significant contribution to the distribution of finance by use. The structure of combinations affects the distribution of financial resources, but the distribution effect is also of independent importance, as it is formed by virtue of the government’s policy of financing priority areas of economic development. In the research we used the method of structural analysis and optimization problems solving.The article substantiates that there are two basic modes of development: when there is a “rational growth” aimed at obtaining the greatest income, and when there is a “limited rational growth” associated with minimizing the risks of economic activity in obtaining an acceptable, but not the greatest income. These two modes strongly influence the allocation of resources within the “old-new” combinations of structure. The study of these regimes using optimization models of imitational property reveals the peculiarities of the influence of the distribution of financial resources on the pattern of the development, which is considered as a change in the economic structure.When planning and elaborating an economic development strategy, it is necessary to take into account the problem of the distribution of financial resources between the directions, old and new combinations with the possible effect of their mutual influence. There are two principal conditions when diversification of activities does not reduce risk, but, on the contrary, can increase it due to the current structure of the sectors, and the new combination redistributes the resource so that it can either stimulate the development of old combinations, or causes collapse of these combinations. The introduction of a new combination and the institutions for financing its development will influence this or another option. The model and approach to solving the structural and distribution’s problem in the allocation of financial and other resources we proposed is a practical tool for managing the distribution of resources in the economic system, based on the state and dynamics of existing and changing markets. В статье исследуется процесс распределения финансовых ресурсов по различным направлениям экономического развития. Рассматривается влияние финансирования на перспективу наращивания видов деятельности и возникновения новых секторов экономики, которые отсутствовали до сих пор, например наукоемких производств.Цель статьи — оценка результатов распределения финансовых ресурсов между сложившимися в экономике видами деятельности, старыми и новыми комбинациями, и влияние этого распределения на развитие экономической системы.В основу исследования положена неошумпеерианская теория экономического развития, которая рассматривает развитие как появление новых комбинаций. Принцип «созидательного разрушения» описывает отвлечение финансового ресурса от старых комбинаций к новым. Большинство моделей, использующихся для описания экономического развития, подчиняются логике этого принципа. Однако появление нового ресурса (или сектора, вида деятельности) и комбинаторный эффект вносят существенную лепту в распределение финансов по направлениям использования. Структура комбинаций влияет на распределение финансового ресурса, но и эффект распределения имеет самостоятельное значение, так как формируется в силу проводимой правительственной политики финансирования приоритетных направлений экономического развития. Используется метод структурного анализа и решения опитмизационных задач.В статье обосновывается возможность двух базисных режимов развития: когда возникает «рациональный рост», направленный на получение наибольшего дохода, и когда имеется «ограниченно рациональный рост», связанный с минимизацией рисков хозяйственной деятельности при получении приемлемого, а не наибольшего дохода. Эти два режима сильно влияют на распределение ресурсов в рамках структуры «старые-новые» комбинации. Исследование этих режимов с использованием оптимизационных моделей имитационного свойства выявляет особенности влияния распределения финансов на характер самого развития, которое рассматривается как изменение экономической структуры.При планировании и разработке стратегии экономического развития требуется учитывать задачу распределения финансов между направлениями, старыми и новыми комбинациями с возможным эффектом их взаимного влияния. Получены два принципиальных условия, когда диверсификация видов деятельности не приводит к снижению риска, а, наоборот, может увеличить его в силу сложившейся структуры секторов, а новая комбинация перераспределяет ресурс так, что способна либо стимулировать развитие старых комбинаций, либо свернуть эти комбинации. Ввод новой комбинации и институты финансирования ее развития будут влиять на тот или иной вариант. Предложенная модель и подход к решению структурно-распределительной задачи в области финансовых и иных ресурсов представляют собой практический инструмент управления переливом ресурсов в экономической системе исходя из состояния и динамики сложившихся и изменяющихся рынков.

Suggested Citation

  • O. Sukharev S. & О. Сухарев С., 2018. "Финансирование Развития: Решение Структурно-Распределительной Задачи // Development Financing: The Solution Of The Structural-Distributive Problem," Финансы: теория и практика/Finance: Theory and Practice // Finance: Theory and Practice, ФГОБУВО Финансовый университет при Правительстве Российской Федерации // Financial University under The Government of Russian Federation, vol. 22(3), pages 64-83.
  • Handle: RePEc:scn:financ:y:2018:i:3:p:64-83
    as

    Download full text from publisher

    File URL: https://financetp.fa.ru/jour/article/viewFile/659/492.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Richard Nelson, 2008. "Economic Development from the Perspective of Evolutionary Economic Theory," Oxford Development Studies, Taylor & Francis Journals, vol. 36(1), pages 9-21.
    2. Robert M. Solow, 2007. "The last 50 years in growth theory and the next 10," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 23(1), pages 3-14, Spring.
    3. G. Silverberg & B. Verspagen, 1995. "Evolutionary Theorizing on Economic Growth," Working Papers wp95078, International Institute for Applied Systems Analysis.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Oleg Sukharev, 2016. "Economic Growth of a Rapidly Developing Economy: Theoretical Formulation," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(2), pages 359-370.
    2. O. S. Sukharev, 2019. "Economic growth and technological renewal: Structural dynamics," Journal of New Economy, Ural State University of Economics, vol. 20(2), pages 30-54, May.
    3. O. Sukharev S. & О. Сухарев С., 2017. "Некоторые Проблемы Теории Экономического Роста // Some Problems Of The Economic Growth Theory," Финансы: теория и практика/Finance: Theory and Practice // Finance: Theory and Practice, ФГОБУВО Финансовый университет при Правительстве Российской Федерации // Financial University under The Government of Russian Federation, vol. 21(3), pages 61-74.
    4. Juan Ricardo Perilla Jimenez, 2019. "Mainstream and evolutionary views of technology, economic growth and catching up," Journal of Evolutionary Economics, Springer, vol. 29(3), pages 823-852, July.
    5. Wignaraja, Ganeshan, 2008. "FDI and Innovation as Drivers of Export Behaviour: Firm-level Evidence from East Asia," MERIT Working Papers 2008-061, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    6. Jun, Bogang & Kim, Tai-Yoo, 2015. "A neo-Schumpeterian perspective on the analytical macroeconomic framework: The expanded reproduction system," Hohenheim Discussion Papers in Business, Economics and Social Sciences 11-2015, University of Hohenheim, Faculty of Business, Economics and Social Sciences.
    7. Lee, Keun & Juma, Calestous & Mathews, John, 2014. "Innovation capabilities for sustainable development in Africa," WIDER Working Paper Series 062, World Institute for Development Economic Research (UNU-WIDER).
    8. Mauricio G. Villena & Marcelo J. Villena, 2004. "Evolutionary Game Theory and Thorstein Veblen’s Evolutionary Economics: Is EGT Veblenian?," Journal of Economic Issues, Taylor & Francis Journals, vol. 38(3), pages 585-610, September.
    9. Sandra Silva & Aurora Teixeira, 2009. "On the divergence of evolutionary research paths in the past 50 years: a comprehensive bibliometric account," Journal of Evolutionary Economics, Springer, vol. 19(5), pages 605-642, October.
    10. André Lorentz & Maria Savona, 2009. "Evolutionary micro-dynamics and changes in the economic structure," Springer Books, in: Uwe Cantner & Jean-Luc Gaffard & Lionel Nesta (ed.), Schumpeterian Perspectives on Innovation, Competition and Growth, pages 137-160, Springer.
    11. Aparicio, Sebastian & Urbano, David & Audretsch, David, 2016. "Institutional factors, opportunity entrepreneurship and economic growth: Panel data evidence," Technological Forecasting and Social Change, Elsevier, vol. 102(C), pages 45-61.
    12. Jeon, Heesang, 2015. "Knowledge and Contemporary Capitalism in Light of Marx's Value Theory," Thesis Commons g5njk, Center for Open Science.
    13. Fátima Fabião & João Teixeira & Maria Borges, 2015. "Long cycles in a modified Solow growth model," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 10(2), pages 247-263, October.
    14. Yury N. Vorobyov & Elena I. Vorobyova, 2019. "Investment potential of Russia’s economy: Opportunities for financing the development," Journal of New Economy, Ural State University of Economics, vol. 20(1), pages 41-60, March.
    15. Rajah Rasiah, 2011. "Book Review: The Return of Depression Economics and the Crisis of 2008 by Paul Krugman, New York: Norton, 2009, 191 pp," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 3(2), pages 387-395, July.
    16. Henrekson Magnus, 2017. "Taxation of Swedish Firm Owners: The Great Reversal from the 1970s to the 2010s," Nordic Tax Journal, Sciendo, vol. 2017(1), pages 26-46, January.
    17. Rajah Rasiah & Nazia Nazeer, 2015. "The State of Manufacturing in Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 20(Special E), pages 205-224, September.
    18. John Knight & Sai Ding, 2008. "Can the Augmented Solow Model Explain China's Economic Growth? A Cross-Country Panel Data Analysis," Economics Series Working Papers 380, University of Oxford, Department of Economics.
    19. Jinfeng Wang & Xuhua Liu & Hongyan Chen, 2011. "Construction of a Cities Evolution Tree, with Applications," ERSA conference papers ersa10p1360, European Regional Science Association.
    20. Solomon Sorin & Golo Natasa, 2013. "Minsky Financial Instability, Interscale Feedback, Percolation and Marshall–Walras Disequilibrium," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 3(3), pages 167-260, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:scn:financ:y:2018:i:3:p:64-83. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Алексей Скалабан (email available below). General contact details of provider: http://financetp.fa.ru .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.