Introduction of investment instruments and models used in the implementation of industrial policy abroad into Russian practice

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Abstract

Purpose of the study: analysis of current trends in the development of industrial policy in the USA and EU countries and its capabilities to confront the modern challenges of the 21st century. The plans of the US government, EU countries, as well as government initiatives to create financial, infrastructural, social and legal conditions and tools for the development of industry and ensuring its competitive advantages in the global market are analyzed. The prerequisites for the emergence of industrial policy and its achievements are analyzed for the development of the future economy of Western countries based on modern technologies and innovations, encouraging targeted investments in industry and infrastructure, motivating companies to switch to renewable energy sources, developing new skills and competencies of workers, as well as based on the transition to new, advanced value creation segments.

Based on the results of the study, proposals were formulated for the use of investment instruments and models used in the implementation of industrial policy in Western countries in Russian practice in the development of investment models aimed at increasing the effectiveness of government support measures for the locomotive industries of Russian industrial development.

About the authors

Lyudmila D. Kapranova

Financial University under the Government of the Russian Federation

Author for correspondence.
Email: LKapranova@fa.ru
ORCID iD: 0000-0001-9130-1252
SPIN-code: 1874-9887
Scopus Author ID: 57200280996

Cand. Sci. (Econ.), Researcher at the Institute of Financial and Industrial Policy, Associate Professor of the Department of Corporate Finance and Corporate Governance

Russian Federation, Moscow

Niyaz M. Abdikeev

Financial University under the Government of the Russian Federation

Email: nabdikeev@fa.ru
ORCID iD: 0000-0002-5999-0542
SPIN-code: 6395-7663
Scopus Author ID: 36625026600

Dr. Sci. (Eng.), Professor, Director of the Institute of Financial and Industrial Policy

Russian Federation, Moscow

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