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Providing guarantees for the implementation of investment projects: Foreign practices

Vol. 25, Iss. 3, MARCH 2019

Received: 17 October 2018

Received in revised form: 28 December 2018

Accepted: 15 January 2019

Available online: 29 March 2019

Subject Heading: FISCAL SYSTEM

JEL Classification: G38, H81

Pages: 596–608

Kosov M.E. Financial University under Government of Russian Federation, Moscow, Russian Federation

Subject This article analyzes the practice of foreign countries in providing State guarantees for investment projects in order to improve their efficiency in Russia.
Objectives The article aims to analyze the mechanism of State guarantees in foreign countries, conditions and consequences of their granting.
Methods The research involves the methods of synthesis and analysis of the obtained subject information, comparison, formalization, and specification.
Results The article presents certain results of analysis of the foreign practices of State guarantees implementation. It also reveals particularities and possibilities of application of the foreign best practices in Russia.
Conclusions and Relevance The foreign experience of providing State guarantees is successful due to peculiarities of functioning of this mechanism. The application of its separate elements in Russian practice will help improve the existing order of projects implementation with State support. The results of the study can be used to improve the mechanism of State guarantees of the Russian Federation.

Keywords: State support, State guarantees, small business, medium-sized business, international experience


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