Financing the digitalization of agribusiness: Russian and foreign experience

Abstract

The scientific article is devoted to the study of domestic and foreign experience in financing the digitalization of agribusiness. The purpose of the scientific research is a critical review and analysis of the best domestic and foreign practices for financing the digital reform of the agro-industrial complex and related problems and possible solutions. When preparing a scientific publication, general scientific methods (observation, comparison, measurement, analysis and synthesis, the method of logical reasoning) and specific scientific methods (static analysis, peer review, graphical method) were used. Results: a critical review of domestic and foreign practice showed a significant role of private and corporate investors in the face of venture funds, endowment funds of specialized universities and active processes of intercompany cooperation between agribusinesses and IT companies. In the Russian Federation, the practice of financing the digitalization of the agro-industrial complex, on the contrary, is built on the high centralization of financial resources represented by the state regulator - the Ministry of Agriculture and its subordinate funds. This leads to the conclusion about the need for a deep revision of the mechanism for providing financing in favor of decentralizing tools and popularizing the work of private and corporate funds for financing agrotech, as well as developing the practice of online application through the developing virtual banking service for financing the APK "Smart- Contract".

Digitization of the economy of the agricultural complex: problems and prospects

“…When preparing theoretical section of scientific research, devoted to determining the main directions of digitalization of the agricultural economics, general scientific methods were used (observation, measurement, comparison, method of logical reasoning, analysis and synthesis) [11][12][13][14][15]. Specific scientific methods (statistical analysis, expert estimates, graphic method) were used to quantify the innovation activity and digital maturity of agro complex.…”