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Participation of non-banking financial organisations in crediting innovation projects

Author

Listed:
  • Duba Olexandr M.

    (Kyiv National Economic University named after. V. Getman)

  • Polishchuk Yevgeniia A.

    (Kyiv National Economic University named after. V. Getman)

  • Gernego Iuliia O.

    (Kyiv National Economic University named after. V. Getman)

Abstract

The article describes main results of study of non-banking financial institutions as creditors of innovation projects. Based on the analysis of their investment activity, the article identifies their place and role in financing innovations. The article also compares banks and non-banking financial institutions as participants of innovation projects. On the basis of statistical data it characterises the modern state of non-banking financial institutions in the market of crediting innovation projects and forecasts their further functioning and status by pessimistic, realistic and optimistic scenarios. In order to achieve the level of realistic scenario of development of the non-banking financial institutions in innovation projects, the article offers a plan of organisation of participation of non-banking financial institutions in innovation projects. Crediting innovation projects by non-banking intermediaries has not only commercial but mostly social effect, since their realisation gradually brings the country's economy to a qualitatively new technical and technological level. Earlier, scientists paid significant attention to banks as main creditors, leaving non-banks aside. The article shows advantages of participation of non-banking financial institutions compared to banks, which seems valuable from the point of view of development of this issue in the financial science environment. The prospective direction here is a study of banks and non-banking financial institutions as competitors in the market of crediting innovation projects.

Suggested Citation

  • Duba Olexandr M. & Polishchuk Yevgeniia A. & Gernego Iuliia O., 2014. "Participation of non-banking financial organisations in crediting innovation projects," The Problems of Economy, RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE), issue 1, pages 272-277.
    • Handle: RePEc:idp:redpoe:y:2014:i:1:p:272_277
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