GLOBAL TRENDS IN THE FORMATION OF NATIONAL FINANCIAL POLICIES
Баландин С.А.
Аспирант кафедры финансы и цены ФГБОУ ВПО «Российский экономический университет имени Г. В. Плеханова»
МИРОВЫЕ ТЕНДЕНЦИИ ФОРМИРОВАНИЯ НАЦИОНАЛЬНЫХ ФИНАНСОВЫХ ПОЛИТИК
Аннотация
В статье выявлены и охарактеризованы современные мировые тенденции формирования государственных финансовых политик.
Ключевые слова: финансовая политика, инновационное резвитие, финансовые меры, кризисные условия, бюджетная политика, промышленая политика.
Balandin S.A.
Postgraduate student of the Department of Finance and prices, Plekhanov Russian University of Economics
GLOBAL TRENDS IN THE FORMATION OF NATIONAL FINANCIAL POLICIES
Abstract
The article identifies and describes the contemporary world tendencies of formation of the state financial policy.
Keywords: financial policy, innovation rezvitie, financial measures, financial crisis, fiscal policy, industrial policy.
Modern world tendencies of the modern world tendencies of formation of the state financial policies are primarily associated with the overcoming of the crisis phenomena occurring in the world economy at the end of the first decade of the twenty-first century, and the adoption of measures to accelerate the development of the manufacturing sector. These trends include:
- enhanced interaction of the state financial policy, including its elements such as monetary and fiscal policy, with other elements of macroeconomic management, in particular, industrial policy;
- expansion of public financial support for national business;
- formation with state financial support to large companies – national Champions that can compete on the world market;
- the use of financial measures to stimulate the development of small and medium business;
- increased funding of innovative development of the corporate sector.
The tendency of strengthening of interaction of the state financial policy with other elements of macroeconomic regulation prevailing in the leading countries, manifested in stimulating lending by the banking system of industrial companies through the implementation in the framework of monetary policy of reducing interest rates of Central banks to a record low values of 0.25-0.75% per annum, and due to a sharp increase in the money supply in the national economy.
Foreign experience of overcoming macroeconomic instability in the first decade of the twenty-first century points to the significant potential of cooperation between state financial and industrial policy, the value of coordination to overcome the crisis. Accounting for this interaction can significantly improve the effectiveness of activities carried out within the framework of the financial policy actually.
In crisis conditions has significantly increased the interaction of fiscal and industrial policy. Effective tool to boost national steel business tax incentives, fiscal subsidies, government spending on vocational training and retraining, including the modernization of production.
To the latest international trends in public financial policy includes the use of financial incentives to small and medium businesses. This aspect is clearly present in the policies of the United States. The forms of state support used in this field are the tolerance of small and medium-sized businesses to government contracts, the promotion of the development of business incubators, including the leading educational institutions, tax benefits.
In the U.S. there are forty-regional centres of state structures "of the us small business Administration". Through it accommodates up to 8% of the sales value of orders for goods and services . In the U.S. adoption of two Federal laws: "Small business, innovation, and R & d" and "loans and small business development", as well as legislation on public financial incentives for small companies primarily engaged in innovation activities.
Significant support for small and medium business is in EU countries. In accordance with the rules applicable in the EU, are considered small companies employing less than 50 people and an annual turnover not higher
10.0 million euros. To average in the EU are companies employing not more than
250 people and an annual turnover not exceeding 50 million euros. In the EU there are currently approximately 23.0 million of such companies, i.e. almost 99% of all registered businesses .
In accordance with EU rules, the share of public investment in small businesses can be up to 15% and medium business – up to 7.5%. Development of exports of EU countries compensate companies for small and medium business up to 50% of the costs of participation in international exhibitions and fairs.
Member countries of the EU have the right to subsidize up to 70% of small and medium-sized companies in their R & d and reimburse them the cost of buying licenses. This practice should be considered the most effective form of financial support of small and medium business, subject to the evaluation of its effectiveness based on the results from the introduction of new technologies into production.
In 2010 in the EU have been implemented initiatives to improve financial support for small and medium businesses. The approval provides for the adoption by member countries of the European Union relevant changes in national legislation in this sphere. EU initiatives include recommendations for extension of tax incentives for small and medium businesses, simplifying procedures for providing public financial support for innovation development and environmental compliance, simplification of reporting to the authorities.
The scaling up of financing for innovative development of the corporate sector as a global trend of financial policy is the strengthening of the state influence on the pace of development of new technologies and their introduction in production. While regulators often assume the function of management of innovative development, defining the priorities for basic research and research and development. In the spotlight are as traditional industries, need of modernization and new production. Among the traditional industries of the main targets of the policy in the sphere of innovations are aircraft manufacturing, engine manufacturing, and shipbuilding. The products of these industries is important to the functioning of modern economies and the markets of these products are among the largest. In the early twenty-first century continued the process of concentration of production and capital in these industries, actively began to use modern materials and technologies. Increased competition in the markets. There are new countries-manufacturers of marine vessels and aircraft. In these conditions changed national politics, traditional producers of these products. So, the EU has developed and is implementing a program to increase competitiveness in the shipbuilding and ship repair industries until 2015 It aims to modernize the sector on the basis of modern technologies. The main source of funding this program – loans of the European investment Bank.
It should be noted that in modern conditions of broad international cooperation in the sphere of innovation combined with the actions of specific countries and integration groups to ensure self-sufficiency in technological development, the creation and consolidation of national base for basic research and research and development. So, despite the wide spread of the American satellite navigation system GPS and use similar Russian system GLONAS in the European Union continue working on the creation of a satellite navigation system Galileo and satellite communications.
Despite the strengthening of the position on the world market of aircraft of the American Boeing and European "Airbus", to produce unique modern civil aircraft proceeded Brazil and Canada. Expand the creation of their own civil aviation in China.
In modern conditions the importance of using the potential defense industries for the development of national industry is manifested, firstly, in cumulative effect, provides for acceleration of economic growth with increased spending on armaments; second, in widespread use in civilian production technology, originally developed in the defence sector.
In the beginning of XXI century a significant impact on the U.S. economy has had a mergers and acquisitions of companies in the military-industrial complex. Their goal was to increase the international competitiveness of the US military industrial complex by reducing costs, streamlining production, increasing the use of modern materials and technologies.
The process of mergers and acquisitions in the us military-industrial sector was driven by government stimulus measures. For example, were allowed to write off restructuring costs of combining the companies ' production costs. In addition, companies – exporters of arms granted concessions on Federal income tax.
Significant benefits to American companies brings an adaptation strategy design and project management, originally used in military production, to reduce the cost of production of civilian goods. This strategy is actively using the Boeing Corporation.Another area of potential use defense industries is the transfer to US of ownership of R & d financed by the Federal budget, private companies implementing government orders to improve their competitiveness.
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