Zyukin D.A.Published in:
Russian Journal of Entrepreneurship
– Volume 19, Number 12 (December 2018)

JEL classification: F52, Q13, Q14, Q17, Q18

Keywords: complex model of regulation, financial support, food security, grain products subcomplex of agro-industrial complex, natural and economic potential, state regulation, strategic development


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Abstract:

The issue of food security has become even more pressing since the food embargo was imposed. The grain products subcomplex of APC, the fundamental elements of the system APC, ensuring the reliability of bakery security, occupies an important place in the solution of this problem. The article presents the factors that determine the natural and economic potential of the grain subcomplex. Taking into account the specifics and peculiarities of the functioning of business entities on all elements of the production chain of grain products subcomplex, for its transition to a highly effective level of development, it is necessary to use a set of measures of regulation and financial support of the state. The study shows that the bulk of direct financial support goes to cover interest on loans, mainly for the implementation of investment projects, indicating the compensatory nature of state support. The author presents the position that the reason for this is excessively high for the real sector of the economy rate on loans, including industries involved in the implementation of the strategy of import substitution of food products. The influence of the state should be borne by the stimulating nature, and not compensatory, in which the government funds will flow into other industries, covering high interest rates on bank loans and the growth of tariffs and prices for logistic services and industrial products. Therefore, the study proposes a comprehensive model of regulation and financial support for the development of grain subcomplex of agriculture, based on increasing the regulatory role of the state in creating a favorable price environment in the grain market and limiting the growth of tariffs and prices of natural monopolies, as well as the easing of monetary policy and the creation of tax preferences as the main tools for creating a favorable investment climate in the industry.

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