Elyakova, Morozov & Fedorova: The Mechanisms of Effective Use of State Sovereign Funds for the Purpose of Investment Development of Regions

ABSTRACT:

The relevance of development and improvement of sovereign wealth funds of a state consists in the necessity of defining strategy and development of mechanisms of effective increase and application of money of National Wealth Fund aimed not only at maintenance of capital and achievement of long-term profitability, but also at provision of steady growth of economy of the Russian Federation. The goal of improvement of Wealth Fund of Russia is development of strategy and mechanisms for effective increase and use of its funds. The present study suggests the author’s mechanisms for increase and application of National Wealth Fund of Russia with use of experience of leading sovereign investment funds of foreign states and with due consideration of current Russian economic conditions. The realization of mechanism of suggested strategy for effective increase and use of money of National Wealth Fund of the Russian Federation implies gradual transition from today’s conservative strategy characterized with the “below average” level of risk to average- and high-risk strategy with expansion of areas of using funds.

 

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