Иванченко О.Г.

In the period of 2000-2018, the Russian economy experienced several external shocks (crisis periods): in 2004, 2008, and 2014, which had a significant impact on credit support for the production and investment sectors. Industrial enterprises in the Russian Federation maintained their share in the structure of the economy throughout the observation period, while the share of industry in the GRP structure of a separate region of the Far-Eastern federal district – the Khabarovsk territory decreased by more than 2 times. Maintaining the position of Russian industry was accompanied by an increased dependence of production and investment activities on the credit resources. In the economy of the Khabarovsk territory, there was a decrease in investment. The minimum growth rate of investment in the fixed capital compared to the previous year in the region was observed in the post-crisis year 2005, and in 2012–2017, investment declined annually. One of the reasons for the reduction in investment was a decrease in the share of credits in the sources of investment financing. Дальний Восток: новые стратегии и модели развития At the same time, the role of banks was not stable and significantly fluctuated under the influence of crisis events. The level of the share of Bank loans in the sources of investment financing less than 5% was formed in the Khabarovsk territory in 2004, 2010, 2017, while the lowest indicator (3.3%) in 2010 corresponded to the lowest share of the region's industry in the structure of investment into the fixed capital (19%).

The article explores the financing conditions of the investment demand of the real sector of economy with resources of the regional banking system. The article is based on the analysis of the existing impressions of the correlation character between the financial sector development level and the growth rates of regional economy, as well as approaches to explaining the investment and lending activity of the banks under economic and structural differences of different territorial entities of the Russian Federation. The research has been conducted utilizing the official data of the Federal Russian Statistical Service, data from the banking statistical sources, and data obtained during September of 2015 and March of 2016 monitoring of the banks, doing business in the region, including the affiliates of non-regional banks. The methodological apparatus of the research includes mathematical methods of processing of statistical data and data from sociological surveys of the banking experts. Validation of the methodological apparatus has been done using the example of the Khabarovsk Territory, which is considered to be representative of the Far East region: The Khabarovsk Territory includes both southern territories with high population density and high levels of economic activity, as well as northern territories, which have relatively low economic development rates. The character of spatial distribution of the economic activity predicates the concentration of the credit institutes in large population centers and significant differentiation in levels of access to banking services of businesses and population in different parts of the Khabarovsk Territory. Based on the results of the study, the pattern of participation of the banks in financing the real sector of the regional economy is influenced by a number of factors. It has been demonstrated that the experience of the past periods, economic expectations, the architecture of the banking system, as well as level of the financial management of companies greatly influence forecasting the results of demand and supply of banking services. The abovementioned factors also define the volumes and limits of lending, offered to the companies in specific region in specific period of time.

Instability in the economy for the last decades has financial nature. It was accompanied by worsening of external and internal market conditions, demand reduction for the products of industrial enterprises, especially for the products of the processing industry enterprise. Economy instability leads to the GDP decline, capital outflow from industrial and financial sectors of economy, investment, lending activity decrease. In these circumstances the role of state support instruments and measures increases. Banking sector is a leading institute of investment and current activity of business financing. In circumstance of instability and crisis, accompanied by capital outflows and restrictions to attract foreign sources of financing the role of the banking sector increases. For the last several years role of the microfinance organizations in providing financial resources for small business activity rises.

In recent years, in the Russian Federation as a whole, and in the Khabarovsk territory as well, there is a tendency to strengthen the influence of the raised funds in the structure of the non-financial enterprises capital. Attracted capital is necessary for the majority of enterprises for the development and formation of the investment base as their own resources are, as a rule, insufficient. There at, the measures of state support and the institutions for financing the activities of the enterprises considered in the article have been obtaining particular importance. Institutions for financing are subdivided into the state ones and the financial and credit ones. The state institutions for financing include the budget and the institutions for development. For development of the enterprises measures of the state financial support that include measures to support small enterprises and to invest the activities of non-financial enterprises in the Khabarovsk territory are also important. Banks and the micro-financing enterprises are assigned as the main financial and credit institutions that render an essential role in investing activities of the enterprises. But, because of certain restrictions, their activities hasn’t yet raised to the scales demanded by the economy. Existence of the state and financial and credit institutions to finance the financial and economic activity of the enterprises under the modern conditions is the most important component of the economic growth of Russia.

The first measures, which stimulate the development of the researches are the measures of support of the innovation development of Russia.