The role of state corporations in the development of the real sector of economy

Abstract

Studying the role and place of state corporations, as well as improving their activities in the framework of stimulating the real sector of the Russian economy is a relevant issue. The subject of the research is organizational and managerial relations arising in the system of functioning of state corporations and their impact on the real sector of economy. The aim of the research is to substantiate the role of state corporations in the development of the real sector of the Russian economy and to develop practical recommendations to improve the efficiency of their functioning in modern conditions. The article reveals the essence, as well as the significant role of state corporations in the innovative modernization of the Russian economy; the necessity of using impressive organizational, financial and economic potential of state corporations in stimulating the development of competitive industries in various sectors of the real sector of the economy is substantiated. There are three main types of state corporations in the Russian economy: a) financial development institutions; their activities are aimed at financing large projects; b) industrial corporations; c) directorates for the implementation of government programs with limited periods of operation and a set of specific tasks for implementation. An analysis of the scale of activity of the state corporate sector has shown that at present state corporations control about 40% of the economy and provide more than half of the state GDP; their financing accounts for about 25% of the expenditure side of the RF budget. The article concludes that state corporations are the locomotives of growth in the real sector of economy, established by the state at the expense of the budget to carry out large-scale projects or to solve important economic and social problems.