According to the majority of the forecasts, the world trade markets in post-crisis period will be characterized by a high level of volatility as well as by the hardening of the competition and modification of support given by countries to their exporters. In this environment the Russian companies will face the tasks to preserve their position at the global markets and to conquer new business segments for sale of goods and services, which is possible only on the basis of the increase of the national competitiveness. Without effective support of the export activity by the government such task seems to be unachievable, and Russia faces the danger of loosing its positions both in the international trade and in the world economy, as a whole.
Russia will be able to answer the challenges of the world crisis in case it focuses the attention of the government on the issues of the support of the export activity of the domestic enterprises including the measures to modernize infrastructure of the foreign trade and its institutes especially in the sphere of stimulation of export of Russian goods, services, investments as well as the objects of intellectual property. These measures include, first of all, provision of the export crediting, rendering guarantees and risk insurance for the participants of the foreign economic activity, also by strengthening of work by corresponding financial structures (institutes).
The existing regulatory and legislative base and the main elements of the system to support export had been formed in Russia only by the middle of current decade. As it is shown by practice, these stimulation mechanisms have not been functioning effectively enough yet, which is accounted for by low efficiency of application of some instruments of support and revealed absence of a number of system forming elements in the field of the foreign economic activity1.
The first attempts taken by Russia directed at forming the basis for export support mechanisms refer to the middle of 1990s and such long process of its creation is mainly accounted for by the fact that during state foreign trade monopoly period in the USSR, the system of export promotion in its classical meaning was practically absent, and the necessary result was achieved primarily by the administrative measures2.
1 Since 2004 the Government of the Russian Federation has introduced a number of measures to promote export, including state guarantee, part compensation of expenses on payment interest rates for credits (export crediting) and insurance of export loans. At the same time, effective mechanisms of export promotion are used inefficiently due to complicated procedures, excessive requirements to exporters, insufficient state provision with finances and other objective and subjective reasons.
2 It should be noted at the same time that in the Russian empire there existed an advanced and quite effective complex of measures, including financial ones, to assist the export of industrial goods and raw materials. See, for example, Tompston S. R. Russian foreign trade in 19th and at the beginning of 20th century, Moscow, 2008, p. 47, FOREIGN ECONOMY COMPLEX OF RUSSIA AND PROB;EMS...
The system of foreign economic management existing now in Russia still has characteristic features and instruments of the planning and administrative economy and partially of state foreign trade monopoly.
At the moment Russia faces an important task of pursuing a purposeful policy of export promotion on the whole and, particularly, of high-tech products export (goods, services and technologies), which is possible only in case the complex measures to create the conditions to realize the export potential of the country and to conduct well-thought structural and industrial policy will be taken.
Highly-developed industrial countries are characterized not only by the level of technological effectiveness or innovativeness of product but also with the use set of modern instruments of government support and national producers and exporters protectionism.
In many countries of the world there is an effective system of export promotion, which is of universal nature when its main characteristic and structure of the applied instruments are concerned, though there are some specifically national features. The study of the leading world practice and its use can contribute to formation of the entire mechanism of the support for export in Russia and creation of its lacking elements (instruments and institutions).
Besides there being no proper mechanism for export stimulation, the measures of its state support in Russia are not coordinated, since they are carried out by different departments. For instance:
• Ministry of industry and Trade of the Russian Federation is commissioned with the function of development of the state policy in the field of support of export of industrial goods, including the trade fairs and exhibitions, as well as with the financial mechanism for compensating to the exporters the expenses for payment of interest rates for credits ;
• Vnesheconombank and Exim bank of Russia are authorized to provide state guarantees, insurance and crediting of export;
• Ministry of Agriculture of the Russian Federation is in charge of the export of the domestic agriculture goods (agriculture raw materials and foodstuffs); similar functions are carried out by other departments according to their specialization in branches and sectors of industry;
• Ministry of Finance of the Russian Federation is responsible for the tax policy, including VAT compensation for export goods and allocation of corresponding financial funds for functioning of the system of export support on the whole;
• Ministry of Economic Development of the Russian Federation coordinates the activity of development institutions and also supports investment collaboration. Besides, the Ministry together with the Ministry of Foreign Affairs of the Russian Federation gives information and diplomatic support to the Russian participants of the foreign economic activity.
At this stage many domestic companies that are oriented towards export acutely need the active support of their activity from the state. Taking into account the current complicated economic situation, it is necessary to reach a breakthrough level in the coordination both between the state institutions mentioned above and with the sphere of interaction with the business.
According to the data of the Ministry for Economic Development of the Russian Federation the structure of the application for the main measures of the state support by the exporters is the following: financial stimulation (35%), tariff regulation (30%), tax policy (25%) and information support (10%).
The annual report of the European Bank for Reconstruction and Development devoted to the economic situation in the countries with the economy in transition (Transition Report 2009), it was noted that in the periods from December 2004 to April 2005 and from December 2008 to April there were no significant changes in the diversification of the Russian export. In the first case the oil and gas sector accounted for 43.5% of the structure of Russian export, and the branches with high added value – 5.9%, and in the period of 2008-2009 the situation remained practically the same (44.0% and 6.2%, correspondingly).
The tasks of diversification of the Russian economy are difficult to solve without the increase in the role of export (of raw materials and industrial goods) in this process and necessity of rational state support of the export of goods with high extents of processing. It should be taken into account that the real situation with the stimulation of export in Russia testifies that there are symptoms of “Dutch disease” – over the last five years there was more than USD 30 billion invested in new RUSSIAN ECONOMY: TRENDS AND PERSPECTIVES oil- and gas pipelines, and less than USD 1 billion – to support the sales of the domestic finished goods abroad.1 In this context the comparison of the suggestion of the Ministry for Economic Development on creation of the system for export support in 2002 and in 2009 becomes meaningful.
(table 1) Table COMPARISON OF SUGGESTION OF THE MINISTRY FOR ECONOMIC DEVELOPMENT OF RUSSIA IN THE SPHERE OF EXPORT SUPPORT IN 202 AND IN November 2009 September Creation and organization of operation of the AgenCreation of the state agency for risk insurance cy for insurance of export credits and investments Formation of the development institute in the sphere of support for the foreign economic activity Exists partially of enterprises Improvement of financial mechanisms for export Granting of the state guarantees to exporters of support high-tech products Stimulation of regional programs, including those to support export-oriented small –and medium- Exists partially scale enterprises Creation of the unified Portal of economic informaСоздание Интернет-сайта «Экспортные возможtion, including regional information resources for ности России» the sphere of foreign economy Source: composed by the author on the basis of the data on the site of the Ministry for Economic Development of the Russian Federation http://www.economy.gov.ru, 30 October 2009; “Gazeta”, 25 September As it is seen from table 1, 5 directions envisaged in 2009 explicitly or implicitly repeat 4 unfulfilled projects of 2002. This testifies the fact that the program of export support was porrly fulfilled over the 7 years, and the same applies to the Concept of the development of the state financial (guarantee) support of the industrial production in the Russian Federation approved by the Decree of ther Governmne tof the Russian Federation from October 14, 2003, No 1493-r.
When comparing the suggestion in the sphere of export support in Russia in 2002-2009 one can see that over this period no changes in the organization of the operation of the Agency on insurance of export credits have taken place, and the same applies to the improvement of financial mechanisms.
At the same time the creation of the development institute in the sphere of the assistance to the foreign economy activity of enterprises and stimulation of the export of production of small- and medium-scale enterprises were apportioned as separate directions for export support.
There is no doubt that the export support and the stimulation of investment activity are the state tasks of high priority in the field of the foreign economic activity. This is defined by the complex of internal and external factors: primarily, due to the existing critical situation in the world economy, the introduction of the protectionist measures, occurring everywhere, the decrease of the export volumes, the drop of the budget incomes, the necessity of the development of the import of raw materials.
The recovery of the world economy will fundamentally change the situation in he international trade and is of vital importance for further development of Russia. In this connection at the current stage it is necessary to form the integral mechanism for export support taking into account the national specific features of the development of Russia and the structure of its foreign economy complex with the use of a broad range of financial and non-financial instruments.
At present one can single out three institutional models for organization of the system for export support in the world:
1) Classical European model, putting emphasis on the insurance provision of export operations;
2) Anglo-Saxon Model, in contrast, envisages primarily credit support;
1 Zaiko А. Exporter’s loneliness. “Energy of industrial growth” (in Russian: “Energiya promyshlennogo rosta”, September 2009, p.5).
FOREIGN ECONOMY COMPLEX OF RUSSIA AND PROB;EMS...
3) and Mixed model, which is most widespread in the world today (for example in Japan and China). It can be assumed that in the existing situation in Russia one should also orientate towards the latter model, which not only provides the egalitarian access to the credit resources, but also envisages partial financing at the expense of the state for fulfillment of the industrial strategy1.
Export, including that of not raw materials, can become one of the leading powers of the recovery form the crisis in the country, which should be taken into account when developing the corresponding targeted programs of the Government.
At the moment when the Russia’s accession to the WTO is still undefined, the formation of the Customs Union of Russia, Belorussia and Kazakhstan is especially important. The state regulation of the foreign trade will be conducted under new conditions starting with 2010 already, when a considerable part of Russia’s authority in this sphere will be handed over to the supranational level of the Commission of the Customs Union.
Thus, the factor of creation of the Customs Union (and in the prospect of the Common economic space) will exercise a direct influence on the formation and fulfillment of the foreign economic policy of the Russian Federation, as well as on the formation of the integral and multi-purpose system of export support for the domestic goods, services, investments and the objects of intellectual property.
At the same time one should not overestimate the possibilities of the state stimulation as the main direction of the increase of the domestic export of goods and services. First of all, in order to expand export, it is necessary to have the national products of the corresponding quality and competitive ability. Besides, it is important to possess an adequate transportation system and logistics network, including the creation of centers for technical support of the Russian goods abroad. Thus, within the framework of the foreign economy complex Russia needs to form the system of support which will embrace the whole life cycle of an export product.
To sum up, it can be stated that in the middle-term run it is difficult to count on the emergence of the new domestic mass production, which will be in demand on the external market because of its technological characteristics, innovativeness and the level of competitive ability. At the same time the efficiency of the state support of export will be mainly determined by the modernization of the domestic economy and its key sectors, which can produce export products (goods and services).
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