DOI: 10.21202/1993-047X.11.2017.1.67-78

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Efficiency of state financial support of export activity of small and medium businesses

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Objective: to assess the effectiveness and role of state financial support of export activities of small and medium enterprises.

Methods: regression analysis, abstract-logical method, method of comparison.

Results: the need is identified to evaluate the impact of state programs of export support on the results of export operations, as a mechanism for assessing the efficiency of public spending in this area. The institutions are analyzed of state support of export of small and medium businesses production in the USA and India. It is revealed that in the US the main tool of support are export credits and guarantees, while in India the emphasis is on the promotion of products to the world markets. To assess the effectiveness of public expenditure on export support, the data were collected and systematized on the total volume of export and the costs of its support in the United States and India. The project revealed the presence of a time lag between these indices. When building
a regression model, the method of least squares was applied, on the basis of which three hypotheses were investigated, namely those taking into account and not taking into account the presence of the time lag between variables. As a result of constructing the model, it was found that in the U.S. the increase in budget spending on export support to $1mln leads to an increase in export volume to $2mln. In India the corresponding figure was $10mln. The analysis of the Russian practice of the state support of export of the small and medium businesses production showed a lack of systematic approach and poor development of the small business sector compared to the studied countries.

Scientific novelty: the positive relationship was revealed between the costs of exports support and export sales in the United States and India. The necessity was grounded of state the financial support of export activities of small and medium enterprises in Russia, as well as product promotion through sectoral cooperation, insurance and export credits.

Practical significance: the results of the study can be used by government institutions to support small and medium enterprises in the formation of policy on the provision of financial assistance to small and medium enterprises and on stimulation of their export activities.

Keywords :

Economics and national economy management; Small and medium businesses; Government financial support of export; Efficiency of government spending

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Citation :

Urumov T. R. Efficiency of state financial support of export activity of small and medium businesses, Actual Problems of Economics and Law, 2017, vol. 11, No. 1, pp. 67–78 (in Russ.). DOI: 10.21202/1993-047X.11.2017.1.67-78

Type of article : The scientific article

Date of receipt of the article :
12.12.2016

Date of adoption of the print :
28.01.2017

Date of online accommodation :
20.03.2017