Bank financing and innovative development of Russian circumpolar area
Purpose The purpose of this paper is to study the impact of bank financing on innovative development of Russian circumpolar area and identifying the barriers to its development. Design/methodology/approach Using the abstract-logical method and a set of methods of economic, statistical and econometri...
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cremerald:10.1108/ijse-08-2016-0227 2024-06-09T07:43:54+00:00 Bank financing and innovative development of Russian circumpolar area An empirical investigation Pogodaeva, Taisya Baburina, Natalia Dmitrieva, Anna 2018 http://dx.doi.org/10.1108/ijse-08-2016-0227 https://www.emerald.com/insight/content/doi/10.1108/IJSE-08-2016-0227/full/xml https://www.emerald.com/insight/content/doi/10.1108/IJSE-08-2016-0227/full/html en eng Emerald https://www.emerald.com/insight/site-policies International Journal of Social Economics volume 45, issue 3, page 564-579 ISSN 0306-8293 journal-article 2018 cremerald https://doi.org/10.1108/ijse-08-2016-0227 2024-05-15T13:25:42Z Purpose The purpose of this paper is to study the impact of bank financing on innovative development of Russian circumpolar area and identifying the barriers to its development. Design/methodology/approach Using the abstract-logical method and a set of methods of economic, statistical and econometric analysis (panel data analysis) the authors examine the role of financial intermediaries in innovative development of Russia and Russian arctic regions. Findings The key financial intermediaries in the Russian economy have historically been the banks, which are, at the same time, as it follows from the analysis above, inertly participating in the innovative development financing in the Russian circumpolar regions. Assessment of the potential intensification of the role of banks in the innovative ecosystems has shown that, despite the development of institutional conditions of banks’ resource base compounding and the development of funding, high risks of innovation, multiplying in a volatile external environment, prevent the inflow of bank capital into the innovation sector. Research limitations/implications Main limitation is the inability of panel data to capture long-term impacts of bank financing on innovative development of Russian circumpolar area. Practical implications The results suggest that the intensification of the banks’ participation in financing innovation and overcoming the existing challenges will enable to stimulate the process of innovation development of the circumpolar zone in Russia. Originality/value There is no study evaluating the impact of bank financing on innovative development of Russian arctic regions. Article in Journal/Newspaper Arctic Emerald Arctic International Journal of Social Economics 45 3 564 579 |
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English |
description |
Purpose The purpose of this paper is to study the impact of bank financing on innovative development of Russian circumpolar area and identifying the barriers to its development. Design/methodology/approach Using the abstract-logical method and a set of methods of economic, statistical and econometric analysis (panel data analysis) the authors examine the role of financial intermediaries in innovative development of Russia and Russian arctic regions. Findings The key financial intermediaries in the Russian economy have historically been the banks, which are, at the same time, as it follows from the analysis above, inertly participating in the innovative development financing in the Russian circumpolar regions. Assessment of the potential intensification of the role of banks in the innovative ecosystems has shown that, despite the development of institutional conditions of banks’ resource base compounding and the development of funding, high risks of innovation, multiplying in a volatile external environment, prevent the inflow of bank capital into the innovation sector. Research limitations/implications Main limitation is the inability of panel data to capture long-term impacts of bank financing on innovative development of Russian circumpolar area. Practical implications The results suggest that the intensification of the banks’ participation in financing innovation and overcoming the existing challenges will enable to stimulate the process of innovation development of the circumpolar zone in Russia. Originality/value There is no study evaluating the impact of bank financing on innovative development of Russian arctic regions. |
format |
Article in Journal/Newspaper |
author |
Pogodaeva, Taisya Baburina, Natalia Dmitrieva, Anna |
spellingShingle |
Pogodaeva, Taisya Baburina, Natalia Dmitrieva, Anna Bank financing and innovative development of Russian circumpolar area |
author_facet |
Pogodaeva, Taisya Baburina, Natalia Dmitrieva, Anna |
author_sort |
Pogodaeva, Taisya |
title |
Bank financing and innovative development of Russian circumpolar area |
title_short |
Bank financing and innovative development of Russian circumpolar area |
title_full |
Bank financing and innovative development of Russian circumpolar area |
title_fullStr |
Bank financing and innovative development of Russian circumpolar area |
title_full_unstemmed |
Bank financing and innovative development of Russian circumpolar area |
title_sort |
bank financing and innovative development of russian circumpolar area |
publisher |
Emerald |
publishDate |
2018 |
url |
http://dx.doi.org/10.1108/ijse-08-2016-0227 https://www.emerald.com/insight/content/doi/10.1108/IJSE-08-2016-0227/full/xml https://www.emerald.com/insight/content/doi/10.1108/IJSE-08-2016-0227/full/html |
geographic |
Arctic |
geographic_facet |
Arctic |
genre |
Arctic |
genre_facet |
Arctic |
op_source |
International Journal of Social Economics volume 45, issue 3, page 564-579 ISSN 0306-8293 |
op_rights |
https://www.emerald.com/insight/site-policies |
op_doi |
https://doi.org/10.1108/ijse-08-2016-0227 |
container_title |
International Journal of Social Economics |
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45 |
container_issue |
3 |
container_start_page |
564 |
op_container_end_page |
579 |
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1801372739061153792 |