Financial support for the development of the northern territories of the country

Abstract

This article studies the issues related to the economic development of the Lower Angara region located in Krasnoyarsk Territory, analyzes the state programs for the development of the Soviet and post-Soviet era territory, and makes an attempt to determine the reasons for the unsuccessful implementation of it. Based on the conclusions made, a new approach to the socio-economic development of the area has been proposed. It consists in the application of a number of specialized industrial clusters on the territory. It is proposed to use bond financing for the financial basis of its formation. To substantiate it, the analysis of the current state of the national bond market in terms of volumes of issuance, maturity has been made and segments of the corporate bond market in the country have been considered. It is suggested that the use of an appropriate financial infrastructure would make the bond financing mechanism operation more effective.