Methods of financing the innovative development of industrial production

Economic & mathematical methods and models

General, it is known from economic literature that the strategy of sustainable development of industrial enterprises is based on the activation of the processes of modernization and innovative development of enterprises and the interrelated management of this process. It should be noted that the different economic nature of modernization processes and innovative development of industrial enterprises makes it necessary to separately consider conceptual approaches and methodological substantiation for financing and implementing these directions. Methods of financing the modernization of industrial production are largely traditional and are known in principle from the provisions of economic science, but the conceptual approaches to financing precisely the innovative development of industrial enterprises, and in particular the methodological support of this process, adequate to modern production and market conditions, need special attention and research. In the article, the authors consider the specifics of financing the activities of enterprises, producers of innovative products from the state, as well as from the banking sector. For example, the parameters of economic equilibrium are considered taking into account the institutional factors for enterprises, producers of innovative products. In addition, the authors reasoned that the factor of the state forming funds for supporting innovative producers "shifts" the economic equilibrium in the market and can reduce the economic efficiency of public spending. Also, the authors substantiate the obvious need for institutional changes in the innovation sphere aimed at forming a flexible system of links between the banking sector and industrial entrepreneurship structures producing innovative products that maintain stability by maintaining the necessary correspondence between the necessary and available credit and investment resources