Scholarly record

MODERN MECHANISMS FOR ATTRACTING PRIVATE INVESTMENT IN THE ECONOMY BASED ON KNOWLEDGE

T.P. Maksimova, L.V. Goryainova, O.A. Zhdanova

Abstract

The article substantiates the role of education, proposes and confirms the hypothesis about the importance and necessity of social partnerships for financing and development of education in knowledge- driven economy. To confirm the advanced hypotheses we studied the evolution of concepts of social interaction and social responsibility to justify patterns of social partnerships in the knowledge-driven economy that allowed us, using the model of "triple helix", to show the necessity of the collaboration of government, universities and corporations to advance on the path of innovative development. The lack of budget funds for the development of education requires a search for other sources of funding for infrastructure facilities in education. We revealed the mechanisms of attraction of private funding of educational institutions in Russia, arising challenges, and possible solutions. The article considers the application of concession as a form of public – private partnerships in preschool education, which recently has found application in Russia. Based on studying world best practices, the authors propose to use the investment funds, in particular, the mechanism of impact investment in education as a promising technology. Improvement of Russian legislation concerning investment funds will create the foundation for wide application of exchange-traded mutual funds for collective investments in the economy based on knowledge. Despite rather wide range of institutes and instruments of financing in the economy based on knowledge, the questions in this field are remaining. The specifics financing of the innovative ideas consist not only in the need to search for capital and expansion of opportunities of its obtaining, but also in enhancement of the procedure for granting of this capital, including by expansion of the range of financial institutions participating in this the process. One of options of how to resolve the mentioned problems is a mutual investment funds of the intellectual property. Firstly investment funds accumulate temporarily disposable capitals of the investors. Secondly the mutual investment fund is an institute of financing, since by means of its functioning there is a redistribution of the capital from the investor to the persons needing the capital (in the considered situation – to the persons performing innovative activities). The formation of trust funds and the mutual investment funds to finance education and innovate in the economy based on knowledge becomes widespread too.

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DOI resolver: doi.org/10.5593/SGEMSOCIAL2017/HB11/S03.087

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