Общество и экономика, 2024, № 4

MexxayHapoOHbI Hay4YHbIN 
N 0BLWECTBEHHO-NONNTUYECKUIN XXYPHa 
OBHIECTBO 1 DKOHOMMUKA 
SOCIETY AND ECONOMY 
Ne 4, 2024 
YKypHan yupexxaeH akageMmaMn HayK — y4acTHUKaMU 
Me>xayHapoOHoWM accoumaumm akageMmnin Hayk 
BbixoguT 12 pas B roga. 
I'maBHBIA pegakTop XypHaia — 
E.b. Jlenyyk, J0KTOp 3KOHOMHYECKMX HAYK 
Penakuyonnasa kojerusi: 1. 3. H. A. Aqmp3aeB, akanemuk HAH benapycu 
E. Babocos, akanemuk HAH Ykpaunsl, nuHoctpanHbiii wieH PAH B. Teen, 
n.9.H. P. JIxkaomes, akanemuk AH Pecrryoimku Tamkukucran M. Jlunop- 
moeB, akanemMuk PAH B. XKypkun, uneH-kopp. PAH W. WBanoB, 1.3.H. 
C. KanamnukoB, akagemMuk AH Pecnyonukmu Tamxukucran H. Karomos, 
akanemMuk HAH Keipreizckoii Pecriy6auku T. Koiiuyes, 1.5.H. I1.Koxno — 
3aM. IJI. peaakTopa, a. puioc. H., tHoctpaHHbii wieH PAH Hryen 3yii Kyu, 
akanemMuk PAH A. Hekunenos, akaneMuk HAH Bbenapycu I1. Hukurenko, 
akanemuk PAH B. Ilopgupses, 1. 5. H. A. PacyneB, akanemuk AH MoinoBbl 
A. Pomka, akanemuk HUA Pecnyonuku Kazaxcrtan O. Ca6aen, B. Coko- 
JuH, 1. puioc. H. O. Torycakos, akanemuk HAH Ykpauns 0. Ilemmyven- 
KO, 1. 9. H. E. flcun. 
© «O6wecTBO N 3KOHOMUKA», 2024 
Mepeneyatka maTepuanoB 6€3 NMCbMEHHOMO pa3peLlleHna pegakumMm He gonyckaeTcA.

COIOEPXKAHUE 
BOITPOCHl BKOHOMUYECKOW NOJTUTUKHA 
HNpuna Cmorpunkas, Hanexna ®PpomoBa. 
K Bompocy pasButus 
MPEIIPUHUMATEIbCKOM NESITETBHOCTA TOCYIAPCTBA .....cceeeeeeeeeeeennnnn. 
ITaBen Koxno. BoeHHast 5koHOMMKa B cCOBpeMeHHoit Poccun ................... 
17 
Ceertnana Wiabuna, Apcentuii CokosioB. PopMUpOBaHUE CHCTEMBI 
OTpacIeBBIX 
MEpP 
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MEXaHM3MOB 
TOCYJapCTBEHHOM 
ITOMIEPXKKU 
DJICKTPOHHOMN IPOMBIITIIEHHOCTH ......vvvvvvvrrrrerrrrrererereeereereeeeeseeeeeeeess 
Bopuc Kamoxnbiii. Ha mytu K ctaHmapTU3MpOBaHHON SKOHOMMKE 
BAMKHYTOTO IIVIKIIA .....uuuvvvveereeeeeeeeunresseeeeeeeeenssssseseeeesessssssesseeseeannnnes 
44 
BOITPOCHI ®UHAHCOBOW MOJUTUKH 
Erop AopamoB. duHaHcupoBaHUe WHQPACTPYKTYPHBIX IPOEKTOB: 
0030p MpoOJIeM ONpeAeEHUS U TEMATUIECKUX HAMPABICHUH ............ 
58 
BOITPOCHI COLHMAJIbBHOM CPEPHI 
Bacuwmii lananko, Bnaquvmnp Hukonaesckuii, Cepreii Cunopenko. Cu- 
CTEMHBII Moaxon K (popMUPOBAHUIO M YHpPaBICHUIO 00pa3oBaTesb- 
HOI1 SKOCHUCTEMOIA: IJTIOOaTbHbIE TEHIEHIINH, YTPO3bl 
M HAIlpaBJICHUS 
DABBUTHS .ceveeeeeeeeeeeereeeeeeeeeeaeeeaesseeseeseesasessssssssssssssssnnsnnnssnnsssssssssssnnnns 
69 
82 
Anekcanap Yenmypenko, Anacracusa Cyropmuna. [1pennpuHumaTeib- 
CKMIA YHUBEPCUTET B POCCUM: MEPECOOPKA? ...coevvvneeeiiiiieeeeeiiie 
e, 
MHUPOBAA DKOHOMMKA 
Hrops bamok, Mapuna bamok. PocT mio0ajbHOro rocy1apCTBEHHO- 
ro Jojra Kak (akTop yCWJIEHUSI HECTaOMJIbHOCTH MUPOBOI BaIIOT- 
HO-(DUHAHCOBOM CUCTEMDBI ... ..ceevvvueneerririneeeeersnneeeessrnneeeessssnneeeessssnns 
108
Hpuna ApsiruHa. YriepogHoe (pMHAHCMPOBAHME B pa3BUBAIOIIMX- 
CsI CTpaHaX: IPOOJEMBI Y IEPCTIEKTUBB ...ceevvereeeeeeeeeeeeeeeeeeeaaaeeaanannnns 

CONTENTS 
ECONOMIC POLICY 
I. Smotritskaya, N. Frolova. To the issue of development of entrepre- 
neurial State aCtiVITY ......uueeeiiiiiiiiee e 
5 
P. Kokhno. Military economy of modern Russia ...............ccccccee.... 
17 
S. Ilyina, A. Sokolov. Formation of a system of sectoral measures and 
mechanisms of state support for the electronic industry ..................... 
26 
B. Kalioujny. Towards a standardized circular economy .................... 
44 
FINANCIAL POLICY 
E. Abramov. Financing infrastructure projects: a review of definition- 
al issues and thematic areas .............uueeeeeeeieiieiiiiiiiiiiieeeee 
e e eeeeeeeeens 
58 
SOCIAL ISSUES 
V. Dadalko, V. Nikolaevsky, S. Sidorenko. System approach to the 
formation and management of the educational ecosystem: global 
trends, threats and directions of development .............cccoeeeeevvvinenen. 
69 
A. Chepurenko, A. Sutormina. Entrepreneurial university in Russia: 
ATEASSEMDIING? ..ooiiiiiiiiiiiee 
e 
82 
WORLD ECONOMY 
I. Balyuk, M. Balyuk. Rising global public debt as a factor of world mone- 
tary system’s enhanced inStability ............cceeveveeeereeeeee e 
108 
I. Yarygina. Carbon offset funding in developing countries: challenges and 
TESPECES .vvevreeereetreeeeeeeeeeereeeeeaeesesseeseesseessesssessseesseesseessesssessessessessesnnes 
132 
KypHain «O06I11ecTBO 1 5KOHOMMKAa» BKIIIOYeH B [IepedeHb pelieH3upyeMbIX HayYHbIX M3/1a- 
HUIi, B KOTOPBIX JOJDKHBI OBITH OIYOJIMKOBAHBI OCHOBHBIC HayYHBIC pe3y/IbTaThl JUCCePTa- 
LM HAa COMCKaHMe YYeHO! CTeIleHN KaHIUaaTa U JOKTOpa HayK IO CIIEIIUMaIbHOCTSIM: 
* 5.2.1. 
D kxoHOMMYECKas Teopusl (IKOHOMUYECKIE HAYKN); 
* 5.2.5. MupoBasi 5KOHOMUKA (3KOHOMHWYECKNE HAYKN); 
* 5.4.4. CoumanbHas CTPYKTypa, COIIMaIbHbIE MHCTUTYTHI 1 IPOIIECCHI (COLIMOJIOTMYECKIE 
HayKu); 
* 5.4.7. Coumosiorus ympasieHUs (COLMOIOTMYECKIE HAyKK).

HayuyHo-opranmn3aioHHast pabora 
10 M3IaHMIO XXypHaJjia OCYIIECTBIISICTCS IIPH MOIIePKKE 
®denepaaIbHOTO rocyIapCTBEHHOTO OIOIKETHOTO YUPEXKISHUS HAyKHN 
MNuctuTyTa 3kKoHOMUKM Poccuiickoit akageMuy Hayk

OBLLECTBO N1 SKOHOMUKA, 4, 2024 
BOITPOCHI PKOHOMUWYECKOMU IMOJIUTUKU 
© 2024 
VIK: 334.723; 334.021. 
Hpuna Cmorpunkas 
JIOKTOp SKOHOMUYECKHUX HayK, 
IIaBHBII HAyIHEIN COTPYIHUK, pyKoBomuTeIb LleHTpa mccaemoBanmii mpo0ieM rocyrapCTBEH- 
Horo ynpasnenus ®I'BYH Mucturyr skonomuku PAH 
(. Mocksa, Poccuiickas ®emeparivsi) 
(e-mail: irinasmot@yandex.ru) 
Hapexna ®pososa 
Hay4yHbIi cotpynHuK @IT'BYH UnctutyT skonHomuku PAH 
(. Mocksa, Poccuiickas ®eneparisi) 
(e-mail: nrasskazikhina@yandex.ru) 
K BOITPOCY PA3BUTHUS ITPENITPUHUMATEJIBLCKOM 
JEATEJIbHOCTHU T'OCYIJAPCTBA 
B craThe uccaeayoTcs TeopeTHIeCKre U MPUKIIaTHbIe BOIIPOCH pacIIupeHUs] MHOT0OGpasus hopM 
Y4acTHS TOCyJapCcTBa B 5KOHOMHUKE B paMKaX HOBOT'O METONOJIOTMYECKOTO ITOAX0AA K PA3BUTHIO SKOHO- 
MUYECKOI1 IeITeIbHOCTH TOCYyaapCTBa. PaccMaTprBarOTCSl OCHOBHBIE CIIOXKHUBINUECS HAYIHBIE KOHIIETIIIAN 
MPEATPUHUMATETBCKOM TeSITETEHOCTU TOCYIapCTBa, MPOAHATM3MPOBAHO COMEPKATEIHHOE HAIOJIHEHNE 
IIOHSTHUS «TOCYIapCTBEHHOE TIPEIITPUHMIMATEECTBO», BBIIEIECHBI €I0 COBpeMEHHBIe (hOpMBI. OCO6BIM 
aKIIeHT B paboTe cieNlaH Ha UCCIIeMOBaHUM TPeIIIPUHAMATEICKOM AeATeIbHOCTH TOCYIapCTBa, CBI3aH- 
HOM C MCTIOJIb30BaHUEM aKIIMOHEPHOM COGCTBEHHOCTH B PHIHOYHOM CEKTOpEe 3KOHOMUKM. [ToKazaHbI 
TeHIEHIINU TpaHC(HOPMAIIUHU U Pa3BUTHS TIPEIIIPUHUMATETBCKOM IeATETBHOCTH TOCYIAPCTBA B YCIOBUSAX 
HOBOW TEONOJTMTUYECKON ¥ SKOHOMUYECKOU peaTbHOCTH. 
KimnouyeBbie c10Ba: pojib rOCyIapcTBa B 9KOHOMUKE, PHIHOUHBIE (hOPMBI BMEIIATEIBCTBA, MTPENITPUHAMATE 
- 
CKasl IeSATeIbHOCTh, TOCYAapCTBEHHAs aKIIMOHEPHAst COOCTBEHHOCTb, ITyOJIMYHBIE aKITMOHEPHBIE OOIIIECTBA. 
DOI: 10.31857/50207367624040012 
O mnepeocMbICIEHNH POJIM FOCYIAPCTBA B COBPEMEHHOI IKOHOMHKE 
I'moGanbHbBIe BEI30BEI Hadaia XXI B. 00ycmaBImBaioT (popMUpOBaHIE HOBOTO JUCKypca 
pa3BUTHSI OOITIECTBA M 9KOHOMUKHU, KOTOPHIN B 3HAUUTETHHOM MAacCUBE POCCUICKIX 
MyOJIMKAIWi oNpeaessaeTcsl KaK HaCTYIUICHUE «HOBOI peaibHOCTW». [IpencTaBurenu 
TOJIUTUIECKUX, COLIMATBHBIX 
1 9KOHOMUYECKMX HAyK PACCMaTPUBAIOT Pa3TMYHbIE aCIIEKThI 
TAHHOM peaJlbHOCTH, BBIAETISIS TaKUE colepKaTeIbHbIe TPU3HAKU, KaK paIuKalbHbIC 
U3MEHEHUS B TEXHOJIOTUSIX, BHEAPEHWE NHHOBALIUI B MPOU3BOACTBO, (hOpMUpPOBaHUE 
MG poBoIi cpembl, TpaHC(hOpMaIIMS SKOHOMUYECKOI OpraHu3ally O0IeCTBa, CAHKIIUH, 
TOPTOBbIC BOMHBI, UHGJISIIIMS, TEXHOTEHHbIE KaTacTpodbl, HOBbIE TPAaHCHAIIMOHAbHbIC 
MHTErpaliOHHbIE O0ObeIMHEHMS U T.1. [1]. 
JI7151 1IeNT HaIlero MCCIIeMOBaHMS CIIEAYeT BBIISIUTD CYIIECTBEHHYIO YepTy HOBOI 
pPeaIbHOCTHY, UMEIOIIYIO OIpeAesiolee 3HaUeHUE IS pa3BUTHUSI CTPaHbl,— peYb UAET 
0 pOCTe BIMSIHUS U pacIIupeHUM (DyHKIIMI TOCyIapCcTBa 
B 9KOHOMUKE. 
IIpoGaema rocynapCTBEHHOrO BMEIIATEIbCTBA B 3KOHOMUKY JIMOO OTKa3 OT BMe- 
1IaTETbCTBA SIBJISIETCS TTOCTOSTHHOM M OCHOBOTIOJIAraloieit TeMoit 5KOHOMUYECKOM

CmoTtpuukas U., ®ponosa H. 
HayKU Ha IPOTSDKEHUU Beero ee cyiiectBoBaHus [2. C. 9]. OnHako, KaK MoaYepKuBaeT 
WM3BECTHBIN 5KOHOMUCT M. MaliiykaTo, BOIpoc o TpaHchopMaIliy poJid TocyaapcTBa 
B 9KOHOMUKE «HUKOTA Mpexe He BcTaBal Tak octpo» [3. C. 23]. O4eBUIHO, YTO B «<HO- 
BOM B3IJISIIE HA y9acTHe rocyIapcTBa B 9KOHOMUKE Hyxknaercst Becb mup» [4. C. 11]. 
OnmHAM 13 Pe3y/IBTATOB IIPOUCXOISIINX TPAaHC(HOPMAITMOHHBIX N3MEHEHUI SBIISICTCS 
MpeBpaIleHne COBPEMEHHOTO TOCYIapCTBa B 9KOHOMUYECKHI CYOBEKT PHIHOYHO 
9KOHOMUKM, MPEANTPUHUMATEIS, ONPEASSIONIETo 1IeJd Pa3BUTHUS U pacliojiaralo- 
IIETO pecypcaMH 1T X JOCTIDKEHMS. [1pr 5TOM CHIDKAeTCsT aKTyaTbHOCTh HAyYHBIX 
MUCKYCCHUI 0 MacIlTabax rocyiapCTBEHHOTO YJacTusl, IEPBOCTEIIEHHOE 3HAUYCHIE 
MpHroOpeTaeT couepkaHve u 3 GHEKTUBHOCTD «PIHOYHBIX (POPM» TOCYIapCTBEHHOTO 
BMEIIATEIbCTBA U KOHTPOJIA [3]. 
JeiicTBUTENbHO, TOCYIaPCTBO B JIUIIE KOMITAHUM C TOCYIapCTBEHHBIM Yy9acTUEM 
aKTUBHO MHTETPUPYETCS B INTOOATBHBIE CETH ITPOM3BOICTBA, TOPTOBIN M (PUHAHCOB. 
B HacrosIiee BpeMst KOMITAaHUY C TOCYIapCTBEHHBIM YYaCTHUEM BHOCSAT 3HAYUTETHHBIN 
BKJIaJl B 5KOHOMUYECKUIA pOCT 
U IHHOBAaLIMOHHOE pa3Butue. [1o oneHkam, mIpUuBOaUMBIM 
BcemupHBIM 6aHKOM, aKTUBBI JAaHHBIX KOMMaHWi cocTaBisiiu B 2018 T. okoJio mosio- 
BUHBI MupoBoro BBII, Ha noio rocynapcTBeHHBIX KOMITAHU 
I IPUXOAUIOCH ITOPSIAKA 
20% wHaBecTULii, 5% 3aHsATOCTH, 40% BHYTpEHHETO IMMPOU3BOICTBA BO BCeM MUpeE [6]. 
ITo utoram 2023 1. B IIepBOIi IECSATKE CIIMCKA KpyIHex kommnanuii Mupa (Fortune 
Global 500) 4 koMITaHUM — 3TO aKIIMOHEPHBIE OOIIEeCTBA C JOJIei ToCyIapCTBEHHOTO 
y4acTHS B aKIIMOHepHOM Kanutaire cBbie 50%: Saudi Aramco (CaynoBcKas ApaBus, 
2 mecro), State Grid (Kuraii, 3 mecto), China National Petroleum (Kuraii, 5 MecTo), 
Sinopec Group (Kwuraii, 6 mecto) [7]. 
PocT BimsiHMSI pRIHOYHBIX (DOPM FOCYIAPCTBEHHOTO YJacTHsi B 9KOHOMUKE 00YCIIaB- 
JIUBAeT HEOOXOMUMOCTD U3YYEHUSI CYLITHOCTU U CONEPKaHUS TIPEAPUHUMATEIBCKOM 
JIeATETLHOCTH TOCYIapCTBa. 
K Bompocy comepxkaHus NOHATHS «IPEINPUHAMATEILCKAS TEATETbHOCTh TOCYIAPCTBA» 
Ha coBpeMeHHOM 3Tale B pOCCUICKOI U 3apy0eXHOI HaydHO JIuTepaType He 
BbIpaOOTaHO €NMHOTO OIpeNesICHUs TIOHSITUS «TOCYyIapCTBEHHOE MpeANpUuHUMA- 
TeJIbCTBO». B 3aBUCMMOCTHU OT CJIOKMBIINXCS KOHILIENITYAIbHBIX MIOAXOI0B MEHSIETCS 
colepXaTeIbHOE HAIIOJHEHUE, KPYT MCCIEIYEMbIX TEOPETUIECKUX U MPAKTUIECKHUX 
mpo06JieM MpeapUHUMATENbCKON NeITeIbHOCTY TOCy1apCTBa. 
O06006meHre 1 CUCTEMATU3aIS ITyOJIMKAIIMIN POCCUICKIX 1 3apyOeKHBIX UCCTIe- 
JloBaTeJIeil ITO3BOJIMIIM aBTOPAM BBIIEIUTD IBA OCHOBHBIX KOHIIEIITYAJIbHBIX ITOIX0Ia 
K ONPENEeICHUIO TIOHSITUS «<TOCYIapCTBEHHOE MPEeNNMPUHUMATEILCTBOY. 
HawnbGosnee TpagyiiiOHHBIN ITOIXOM, CBSI3BIBAET 3TO IMOHSTHE C IEATEIBHOCTHIO Opra- 
HM3ALIMIA C TOCYIapCTBEHHBIM Y4aCTHUEM B PIHOYHOM cekTope 3koHoMMKH [8. C. 35]. To 
€CTb I10JI TOCYyAapCTBEHHBIM TIPEIITPUHUMATEILCTBOM MIOHMMAaeTCs (popMa S5KOHOMUYE- 
CKOW aKTUBHOCTU KOMITAHWI, YUYPEXIECHHBIX PA3IMYHBIMU OpraHaMy roCyaapCTBEHHOMN 
paactu [9. C. 23]. JlaHHBIi KOHILIENITYaJIbHBII MOIXO0M K OIPeIeIeHUIO FTOCYIapCTBEHHOTO 
MpeAnpUHUMATENLCTBA PACTIPOCTPAHEH U B 3apy0OexXHbIX uccaenoBanusix. Hanpumep, 
JIx.P. ®puMaH B cBoeii CTaThe, IIOCBSIIIEHHOI TOCyIapCTBEHHOMY IIPEIITPUHNMATEIBCTBY, 
JIaeT CJeayIOoIIee opeaeeHIe: «DTo ITOJIUTHKA, B paMKaX KOTOPOI IIPON3BOACTBEHHBIE 
OPEAIPUSITUAS HAXOASATCS B TOCYIapCTBEHHOM COOCTBEHHOCTH, HO YIIPABJISIOTCS 
B COOTBETCTBMH CO CTAaHIAPTHLIMU KPUTEPUSIMU BeaeHus ousneca» [10]. Ilpu aTom

K Bonpocy pa3suTus npeanprHMMaTesibCKon AeaTeNbHOCTU rocyAapcTBa 
7 
3apyOexXHbIe UCCIIENOBATEIN OTMEUAIOT, YTO OCHOBOIIOJIATAIOIIE HAyYHbIE paOOTHI, 
MMOCBSIIICHHBIC PA3BUTHIO TOCYIapCTBEHHOTO IIPEAIPUHNMATEIbCTBA, TTOJIYININ 
HauboJbllee pa3BUTHE B ceperHe MpoIuioro Beka [11]. B HacTosiee BpeMst cooT- 
BETCTBYIOIIUI KPYT IIpo0JIeM 6oJiee aKTMBHO UCCIIEAYeTCsI 
B paMKaX TeOpUHU Tocyaap- 
CTBEHHOTO Kanurtaauima [12, 13]. 
Bropoii KoHLIeNTyaJIbHbBINM TOAX0 IIPEeAIoaracT 6ojee paciIMpeHHOEe ConepXKaHne 
TIOHSITUS «TOCYIapCTBEHHOE TIPeANIPUHIMATETLCTBO». B MoHOTpadmm «PasButne 
¢GhopM TocynapCTBEHHOTO MPeAIIPpUHUMATEIbLCTBA B POCCUMCKOI 9KOHOMUKE» [14] 
OTMeYaeTCs, 9YTO BCE KITIOUEeBBIC XapaKTePUCTUKY IIPEIIIPHHUMATETbCKOM TesITeIb- 
HOCTH, BBIIeJIEHHBIC B (DYHIaMEHTAJbHBIX pab0Tax, TakKhe KakK: MOMCK PhIHOYHBIX 
BO3MOXHOCTE!, IPUHATHE PEIICHUI B YCIOBUSIX HEOIIPEAETICHHOCTU, BHEIPEHNUE 
WHHOBALIMI — OTHOCATCS KaK K YaCTHOMY, TaK 1 K FOCyIapCTBEHHOMY CEKTOPY B PbI- 
HouHo# s3koHOMUKe (D. Haiir [15], U. Kupunep [16], Y. baymons [17] n op.). 
Ha ocHoBe pe3ynbraToB CpaBHUTEIHHOTO aHAT3a CYIITHOCTHBIX XapaKTePUCTHK 
YaCTHOTO 
Y FOCyJapCTBEHHOTO MPpeAIIPUHNMATEIbCTBA aBTOPHI pacCMaTPUBaeMO 
MoHoTpaduM IpenjiaraioT CIeAylolee conepxXaTebHOe onpeneneHue: «Ipexmpu- 
HUMAaTeIbcKasl JesITeJIbHOCTh TOCYyIapCTBa — 9TO XO3SICTBEHHAS AESITEIbHOCTD, OCY- 
IIECTBIIIEMas Ha pUCKOBOM OCHOBE, IIPE/IITOJIaraolasi UCITOIb30BaHUE COOCTBEHHOCTH 
rOCy/IapCTBa, OCYIIECTBIIAEMasl “TOCYIapCTBEHHBIMU areHTaMM”, a TAKXKe ITOCPEACTBOM 
dopmupoBaHus chepbl PHIHOYHOTO MTPEUIOKEHHS TOCYIaAPCTBEHHOTO KAluTaIa B pas- 
JIMIHBIX chepax SKOHOMIYECKOU AeITeTbHOCTH, He 3allpellleHHBIX 3aKOHONATETbCTBOM, 
B LIEJISIX YIOBJIETBOPEHUS ITOTPEOHOCTEM 00I1IeCTBa U €0 rpaxkaaH B TOBapax, padboTrax 
U yCIIyrax, ¥ MoJlydeHus TpUObLIM Ha CUCTEMaTUYeCKOM OCHOBE, HEOOXOIUMOM IJist 
caMOpa3BUTHSI CyObEKTa X0351ICTBOBaHUS U o0ecrieueHsT (DMHAHCOBBIX 00SI3aTEIbCTB 
nepen IpyruMu X03sMCTBYIOIIMME cyobeKTamu» [14. C. 27]. 
Crenyet OTMETUTD, YTO IIPUBENEHHOE ONpeaeIeHe MIpearojiaraeT ocodoe 1eie- 
MoJjiaraHre y ToCyJapCTBEHHOTO MPEAIIPUHUMATEILCTBA, 3 UMEHHO «yIOBJIETBOPEHIE 
MoTpe6GHOCTeit 001IecTBa 1 TpaXaaH», YTO OTIIMYAET eT0 OT YaCTHOTO TIPeAITPUHI- 
MaTelbCcTBa. JlaHHOE MMOI0XEeHUE Pa3IeIsIIOT Pl POCCUICKIX aBTOPOB, HAIIPH 
- 
Mep B uccnenoBanusx IlorymaeBoit M.1O. nesarenbHOCTS TocyiapcTBa, OTHOCHUMAST 
K IpeIMpUHUMATEIbCKOM, HalpaBJieHa «Ha IIPeIOTBPAIlleHUSI KPU3UCHBIX CUTYaIi 
B SKOHOMUYECKOM ¥ COLIMATBHBIX c(pepax, obecrieueHre MaKpOIKOHOMUYECKOTO PaB- 
HOBECUSI 
1 BKOHOMUYECKOT0 POCTa, IIPOU3BOACTBO OOIIIECTBEHHBIX 0J1ar, HaXoAsIeecs 
3a IIpeesiaMy KOMIIETEHIIMK YacTHOTo 6usHeca» [18. C. 12]. 
PaccMoTpeHHas pacmmpeHHass KOHIIETIIHNS TOCYIapCTBEHHOTO TIpeaIpUHIMA- 
TEJIbCTBA HE OTPAaHUYMBAETCA AeSATEIbHOCTBIO TOCYIapCTBEHHBIX IIPEATNIPUSITUIA, OHA 
BKJTIOYAET TOCYTapCTBEHHOE MHBECTHPOBAHUE, CUCTEMY ITyOIMYHBIX 3aKYTIOK, IEATeTh- 
HOCTb rOCYIapCTBEHHBIX KOPIIOpAIYii, yIIpaBlieHUe aKIIMOHEPHOM COOCTBEHHOCThIO 
rocymapcTsa M T.1. [1py 3ToM oTMedaeTcst pa3MbITOCTh TPAHUI] M «HEOUEBUITHOCTE» 
MPU3HAKOB T'OCyIapCTBEHHOIo npennpuHuMarenascTaa [8. C. 36]. 
0060061125 pe3yabTaThl TPOBEACHHOTO MCCISIOBAHUS, BBIIEIM KITIOUEBbIE XapaK- 
TePUCTUKH TOCYTapCTBEHHOTO TIpEeAIIPpUHIMATENbCTBA: (DMHAHCOBas 3aMHTEPECO- 
BaHHOCTh U HEOIIPEIEICHHOCTh pe3y/IbTaTa; MHHOBAIMOHHBIN XapaKTep NeiiCTBUIA; 
ocoboe 11esIerIojlaraire; BO3IeCTBIE Ha COIMATBHYIO M 9KOHOMUYECKYIO CPEIy. 
ITpu 3TOM paciMpeHHast KOHLEMIIUS TOCYyIapCTBEHHOTO MpeanpuHUMAaTeIbCTBa

CmoTtpuukas U., ®ponosa H. 
6oJiee TIOJTHO OTpaXKaeT CJIOXUBIIMECS (POPMbI y4acTHsI TOCYIapCTBA B 9KOHOMMUKE. 
TocymapcTBO BBICTYITA€T KaK COOCTBEHHUK, MHBECTOP, 3aKa34MK 
W OM3HEC-MIapTHED. 
OHoO ynpasBiseT TOCyJapCTBEHHOM! aKIIMOHEPHOMN COOCTBEHHOCThIO, MHBECTUPYET 
(pBIHOYHOE MPEIIOXKEeHNE) TOCyIapCTBEHHBIN KallUuTall, OCYIIECTBIISICT ITyOJIMYHbIC 
3aKyIIK1, COBMECTHBIE ITPEIIIPUHUMATEIECKIE IIPOEKTHI ¢ YaCTHRIM Omu3Hecom (I'YIT). 
BriereHHbIE XapaKTepUCTUKU U (hOPMBI TOCYIAPCTBEHHOTO TIPS PUHUMATEIHCTBA 
COITIACYIOTCS C KOHIIETILIUEH npednpunumamensckoeo eocyoapcmea M. Mariiykaro [3], 
B paMKaxX KOTOPOIi TOCYITapCTBO UTPAeT BEAYIIYIO POJIb B 00eCIIeUeHN S9KOHOMUYE- 
CKOTO Pa3BUTHUS M pOCTa, HE IIPOCTO CMsTYAsl PUCKH, HO IPUHKUMAsI UX Ha ceOsi, 3a01- 
pasg UX y 4aCTHOTO ceKTopa. DPHEKTUBHOCTD U YCHEITHOCTD MPEANPUHIMATETHCKOM 
JIeSITEIIbHOCTU TOCYJapCTBa 3aBUCUT OT CIIOCOOHOCTH TocymapcTBa (hopMyInpOBaTh 
«HOBO€ BUJIEHUE» MDA, BOBMOXHOCTHU OCYIIIECTBICHUS «T€PITETMBBIX MHBECTULINIT», 
OCHOBaHHEBIX Ha JJOJITOCPOYHOM CTpaTETMy pOCTa Y IIPUHATAM HEU30EKHBIX pUCKOB. To 
€CTb MPeAIPUHIMATEIIECKOE TOCYIapCTBO ACHCTBYET TaM, e OU3HeC, 11T BBLKUBAHUS 
KOTOPOTO HEOOXOIVM OIpeneIeHHBII YpOBEHb PEHTA0CIbHOCTH, IEHCTBOBATh HE MOXET. 
TocynapcTBeHHbIH KAMUTAJIN3M — HOBAsi MOJIEJIb? 
B HacrosIee BpeMs HayIHBIE TUCKYCCHH O TIPEAIPUHIMATETBLCKOMN PO TOCY- 
JIapCTBa B IIEJIOM, TOCYIapCTBEHHOM KalluTajie U TOCyIapCTBEHHBIX MHBECTUIIMSIX 
B YACTHOCTH TIPOMICXOIST B paMKaX Pa3BUTHS TEOPHUU HOB020 20CY0APCMBEHH020 Ka- 
numanuzma [12, 13]. OgHaKO TOHATHE «HOBOTO TOCYIapCTBEHHOIO KAIIMTAIN3Ma» 
MOKa He MOJyYMIO OOIIETPUHSITOTO CONePXKaTeIbHOTO HanmoHeHus. Kak otmevator 
B 3apy0esKHOI TUTepaType, EMKOCTh TEPMIUHA OTPAaHUIMBAET €T0 MCCIIENOBATEIECKYIO 
7 aHAJIUTUYECKYIO TI0JIe3HOCTH [ 19, 20]. 
Tak, B ctathe [13] aBTOPHI ITOA, rOCYAapCTBEHHBIM KalIMTATM3MOM ITOHUMAIOT KO- 
HOMWYECKYIO CUCTEMY, B KOTOPOI1 «TOCYTapCTBO UCIIOIB3YeT Pa3TNIHbIE MHCTPYMEHTHI 
IIJISI aKTUBHOTO BMEIIATEIbCTBA B KOHOMUYECKOE IMPOU3BOACTBO U (hYHKITMOHUPO- 
BaHWE PEIHKOB». K MHCTpyMeHTaM rocyaapCTBEHHOTO BMEIIATEIbCTBA B SKOHOMUKY 
OTHOCST TOCYIapCTBEHHYIO COOCTBEHHOCTb, KOHTPOJUPYEMBI TOCYTapCTBEHHBII 
KaIuTaj, CyOCUINy, MHBECTULIMH, TOCYAapCTBEHHOE MOTpebieHre (0011eCTBeHHbIE 
3aKyIKH1), (hopMasbHBIE 1 He(popMaTbHBIe KOOPIMHAITMOHHBIE MEXaHN3MEL. 
B KOMIUTEKCHOM UCCIIETOBAHWUM, TIOCBSIIIEHHOM TEOPETHYECKUM acIleKTaM HOBOTO 
rocyJapCTBEHHOTO KanuTaau3Ma, COTpyIHUK KopeiicKoro MHCTUTYTa MeXITyHapoi- 
HOM 3KoHOMMYecKoi mmoutuku K. KM nmpuBoauT pe3ynbTaThl HAQyYHOTo 0030pa 
IMyOJIMKAIMM 0 rocynapCcTBeHHOMY KanuTtaiau3Mmy [21]. OH BbIIENISIET IIacT pador, 
MOCBSIIIIEHHBIX HETTOCPENCTBEHHO TOCYAapCTBEHHBIM MpeanpusitTusiMm [12, 22—24], 
1 OTMEYaeT, YTO JaHHBIM KOHIIENITYAJIBHBIN MOIXO «IIpeiaraeT 6ojiee KOHKPETHOE 
IMOHUMaHNE rOCYIapCTBEHHOIO KalmuTaju3Ma IMyTeM aHajIu3a MojyJaTteseil i aep- 
XKareJiell rocymapcTBeHHoro Kanutaias [21. C. 288]. 
I1pu 3TOM aBTOpP JAeT CBOE OIpeaeIeHIE MTOHSITHAS HOBOTO TOCYyIapCTBEHHOTO 
KaIluTaIn3Ma «KaK pa3HOBUIHOCTY KalUTATUCTUYECKOM SKOHOMUYECKOI CICTEMBbI», 
B KOTOPOM OIIPENEISIONIYIO POJIbh UTPAET TOCyIapCTBEHHBIN KaIUTa, T.€. «[IPaBUTEThb- 
CTBa MHBECTHUPYIOT KAIUTAJI IS TTOJTyYEeHUSI 9KOHOMUYECKUX BhIromy [21. C. 288—289]. 
K. Kum BoizessieT PyHKIMKY SKOHOMUYECKOTO CyOBEKTa — «TOCYyJapCTBEHHOTO Ka- 
MIUTATMCTA», TIPEATIoJaras, YTo SKOHOMUYECKasl AeSITeTbHOCTb TOCyTapCTBEHHOTO Ka- 
MUTATKCTA JOJDKHA ObITh CBSI3aHAa C YIIPABJIEHUEM roCyIapCTBEHHON COOCTBEHHOCTHIO

K Bonpocy pa3suTus npeanprHMMaTesibCKon AeaTeNbHOCTU rocyAapcTBa 
9 
Y TOCYJapCTBEHHBIM KAITUTAIOM JJIsI TIOJIyYeHUs] 3KOHOMMUYECKOI BhIroabl. [1pu 
5TOM TOCYAAapPCTBEHHBIN KAITUTAINCT OYAET MPEACTABIATh CO00IT «COBOKYITHOCTD 
TOCyJapCTBEHHBIX UHUII, KOTOPbIE MHBECTUPYIOT CBOI KAITUTAJI JJIsI TIOTYyYSHUS 
5KOHOMUYECKOU BBITOJIbI, KOTOPAsi MOXET IPUHECTH T10JIb3y Pa3IMIHBIM aKTOPaM 
B Pa3HBIX BpeMEHHBIX U3MEPEHMIX. BelmunmHa MHBECTUIINIT STHX TOCYIapCTBEHHBIX 
KaITUTAJIMCTOB ONPEILIISICT CHITY 
Y MACIITa0bl TOCYIapCTBEHHOTO KAITUTaIM3Ma B Ka- 
MUTAJIMCTUYECKOI 3KoHOMUKe» [21. C. 289]. 
Oco060e BHUMaHNE B pacCMaTpUBaeMOil paboTe MCClIeqoBaTelb YASISIET Tocyaap- 
CTBEHHOMY aKIIMOHEPHOMY KaIuTally, II0OKa3bIBasi, YTO 3a CUET yJaCTUs B JAesATEIIb- 
HOCTH KPYITHBIX KOPITOpAIii TIpaBUTEILCTBA TTOJTyJaioT (PMHAHCOBYIO IPUOHLTE. 
TocymapcTBeHHOE y4acTue IyTeM PHIHOYHOTO pa3MeIeHUs] aKIIMOHEPHOIO KarnuTaja 
paccMmaTpuBaeTcs Kak (hopMa rocyaapcTBeHHBIX MHBecTUIN. OTMeTnM, uto K. Krimom 
MIPEIIIPHUHATA ITOIBITKA JaTh «KOJIMIECTBEHHYI0» XapaKTepPUCTUKY TOCYIapCTBEHHOTO 
KanuTaju3Ma Ha OCHOBe aHajn3a (MHAHCOBBIX aKTUBOB ITPABUTEILCTB PA3IMYHBIX 
TOCyIapCTB B BUE aKIMi aKIIMOHEPHBIX 
U MHBeCTUIIMOHHBIX (poHI0B (EIFS). 
B nccnenoBaHmsIX, pacCcMaTPUBAIOIIMX TOCYIaPCTBEHHBINM KAITUTAIN3M CKBO3b 
MPU3MY FOCYJapCTBEHHOM COOCTBEHHOCTH M KOHTPOJISI HAJl KAITMTAJIOM, BBIICIISTIOTCS 
MpU3HaKK (PopMUpYIOIEeiics Ha COBpEMEHHOM 3Tare «<HOBOM MOIEIN» TOCYyAapCTBEH 
- 
Horo KanuTanuama [12]. KiroueBbIMy 0COOEHHOCTSIMU TAHHOM MOIEIIN SIBJISIETCSI OTCYT- 
cTBUE (DUKCUPOBAHHBIX TPAHUI] MEXTY TOCYIapCTBEHHOUN U YaCTHOM COOCTBEHHOCTBIO 
[25], mpeBpaliieHre TOCYIapCTBEHHBIX KOMITAHMI B «TMOPHMIHBIE OpraHu3aum» [26], 
B KOTOPBIX TOCYIaPCTBO KaK COOCTBEHHMK COCEIICTBYET C YACTHBIM IIpeAIpUHIMATEIEM 
U PIHOYHBIMM MHBECTOpaMu. BaxkHeNIIIMMU XxapaKTepUCTUKAMU «HOBOM MOIEI» 
TrOCyJIapCTBEHHOTO KalIMTAIN3Ma BBICTYAIOT «pPBIHOYHAS OPUEHTAIUS» U «PaCTyIIast 
mobanuzauus» [27]. 
PesroMupyst pe3ymbTaThl 0630pa CYIeCTBYIOIINX NUCCIIEI0BATETECKIX MTOIXOI0B 
K colepXaTeJIbHOMY OIpeAe/ICHUIO IPeAIpUHUMATEIBCKOM JeaTeIbHOCTY rocyaap- 
CTBa, MOXHO CIIeJIaTh BBIBOJI, YTO PACCMOTPEHHBIE KOHIIETIIINY Y HOBasl TEOPUSI TOCY- 
JMApCTBEHHOTO KAaITMTAIN3Ma, II0 CYTH, TIPEIIT0IaraloT pa3BUTHE BRIICICHHBIX paHee 
OCHOBOIIOJIATAIONINX «PBIHOYHBIX (DOPM» SKOHOMUYIECKOI JesITeIBHOCTHA TOCYIapCTBa. 
OTMeTHM, UYTO IpeBpallleHre ToCyIapCcTBa B aKTUBHbBIM S3KOHOMUYECKUIA CYOBEKT, 
OIPEEIAIOIINI HOPMATUBHBIE YCTAHOBKY IESITEIbHOCTY W VICTIONB3YIOIINIA MMEIOIIIAECS 
pecypcHI ISl pealu3allii COOCTBEHHBIX MHTEPECOB, XapaKTePHO U JIJIs HaIlleii cTpa- 
HBI. Poccuiickue sKCIiepThl OTMEYAIOT Pa3BUTHE PHIHOYHBIX (hOPM TOCYIapCTBEHHOTO 
y4acTHs B 5)KOHOMHMKE, B TOM YMCJIE HA OCHOBE YIIPaBICHUS aKIIMOHEPHOM COOCTBEH- 
HocTbIo [28—30]. OcTaHOBUMCS Ha 3TOM aclieKTe MccliefoBaHus 0oJjiee IIoapoOHO. 
IIpennpuHrMaTeIbCKast AeITebHOCTh FOCYIAPCTBA: POCCHIICKAS MPAKTHKA 
Kax MBI yke oTMeUanu paHee, BaXXKHEHUIITYIO pOJTb B peai3ariii MPeATPpUHIMATEITb- 
CKO1 IesITeIbHOCTH TOCYIapCTBA MTPAIOT KOMITAHUHM C TOCYIapCTBEHHBIM YIaCTHEM, 
T.€. «KOMMEepUYEeCKHe OpraHu3alliu, CO3IaHHbIe B OpraHU3allMOHHO-TIPAaBOBbIX (hopMax 
aKIIMOHEPHOTO 00IIeCcTBa 1 00IIEeCTBA C OTPaHNICHHOM OTBETCTBEHHOCTHIO, aKIIHO- 
HepoM (YY4aCTHHUKOM) KOTOPBIX BeIcTymaeT Poccuiickas Menepanust u (Win) CyObeKT 
®denepanun» [31. C. 7]. 
JIJ1s1 11e11 HacTosIIe paboThl ObUIO BRIIIOJIHEHO MCCIeI0BaHNE TUHAMUKYI KOM- 
MaHUi C TOCyNapCTBEHHBIM yYacTUEM B POCCUIICKOU aKoHOMMKe. O000I11IeHEe

CmoTtpuukas U., ®ponosa H. 
PEe3yJBTaTOB IMPOBEASHHOIO CTaTUCTUYECKOrO aHau3a (puc. 1) mo3BoJIsIieT celaTh 
BBIBOJI O CJIOKMBIILIEICS TEHICHIIMK K COKPAIIEHUIO O0IIEro Y1cia KOMITAHWI ¢ TO- 
CyIapCTBEHHBIM ydacTreM. [lefiCTBUTENIFHO, B MCCIIEMyeMBbIil TIEPHOL 00IIee YHUCIIO 
KOMITaHUI COKpaTuiIoch Ha 35% (c 3718 ex. B 2016 1. mo 2421 ex. B 2023 1.). 
PaccMmoTpuM TipeAcTaBlIeHHYIO JUHAMUKY YMCIEHHOCTH KOMIIAHUM C YUeTOM MX 
OpraHu3allMOHHO-IIPaBOBhIX opM. Kak cienyeT U3 nuarpaMMel Ha puc. 1, 3a uccie- 
nmyembrit repuos (2016—2023) HaubGoiiee pe3Koe CHIKEHME KOJMYeCTBA KOMITAHU 
I 
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KOJIMYECTBO HEMYOJIMYHBIX aKIIMOHEPHBIX 0011ecTB (Ha 40%), Ho B 2023 . HAMETWIIaCh 
TEHJEHIIUS K HeOOJIBIIOMY CHIDKeHMIO (Ha 6,3%). I1pu 3TOM KOMIIaHWM, CO3JaHHbIE 
B ¢hopMe 0OIIECTB ¢ OTPAHUYECHHOM OTBETCTBEHHOCTHIO, OTPHUIIATEIbHOM JTUHAMUKHI 
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BosHukaeT Bonpoc, Kak MojTydeHHbIE pe3yJIBTaThl COIIACYIOTCSI 
¢ 000CHOBAaHHBIM paHee 
TOJIOXKEHNEM O POCTE PHIHOYHBIX (DOPM YUACTHSI TOCYIApCTBA B POCCUIICKOI SKOHOMUKE. 
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¢ opM sIBIIsIeTCs pa3MellieHre ToCyIapCTBEHHOTo KanuTania (Tabi. 1). 
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BBIBOJI, YTO B CTOMMOCTHOM BBIPaXKEHUH YIaCTHE TOCYIApPCTBA B KAITUTAJIE XO3SICTBYIOIIX 
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Hcmounuk: cocTaBIeHO aBTOpaMH I10 faHHBIM Poccrar [32]. 
*JlaHHBIE TIPUBEIEHBI IT0 COCTOSIHUIO Ha 
1 MIOJIT OTYETHOTO rona. bes yueTta cratmcTudeckoit 
nHdopmaruu no Honenkoit Hapognoit Pecniyomke (JIHP), JIyranckoit Haponnoii Pecry6nuke 
(JIHP), 3anopoxckoii 
1 XepCOHCKOI 001acTsIM.