Insurance instruments in risk management of the manufacturing sector of a region: The case of the Republic of Khakassia (Russia)

Описание

Тип публикации: статья из журнала

Год издания: 2020

Идентификатор DOI: 10.21511/imfi.17(4).2020.26

Ключевые слова: insurance, manufacturing sector, regional economy, risk management, typology

Аннотация: Socio-economic development of a region is based on its production capacity. However, most regions in Russia are characterized by financial instability of local enterprises and the lack of a balanced structure of the regional economy. Insurance is an instrument of financial protection against risks, and its effective functioning is Показать полностьюimportant for the development of the manufacturing sector, especially in depressed regions. This paper aims to highlight the mechanisms for increasing the production capacity of a region and reducing business risks with the help of insurance instruments and to provide appropriate recommendations for the development of the insurance market. This is planned to be achieved on the basis of analysis and processing of existing scientific research in this field and statistical materials. For this, a typology of regions was developed, which reflects the level of production in the region and is important in terms of developing the regional insurance market. This allows assessing the impact of insurance coverage in the region on the development of its production capacity. The proposed typology allows determining the causes of production inefficiency. The conformity of the development of the regional insurance market to the needs for insurance coverage of the production sector in the region was assessed. The identified imbalance between the provision of insurance coverage and the need for it allowed demonstrating an additional need for insurance, as well as working out a program for its development. The obtained results are illustrated using the example of the Republic of Khakassia, a constituent entity of the Siberian Federal District of the Russian Federation. To implement risk management in the manufacturing sector, schemes of interaction between insurance market participants using commercial and non-commercial insurance are proposed. © Evgenija Prokopjeva, Galina Chernova, Nataliya Kuznetsova, Svetlana Kalayda, Leonid Ivanov, 2020.

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Издание

Журнал: Investment Management and Financial Innovations

Выпуск журнала: Vol. 17, Is. 4

Номера страниц: 299-314

ISSN журнала: 18104967

Издатель: LLC CPC Business Perspectives

Персоны

  • Prokopjeva E. (Department of Economics and Humanities, Khakass Technical Institute, Branch of Siberian Federal University, Russian Federation)
  • Chernova G. (Department of risk Management and insurance, St. Petersburg state University, Faculty of Economics, Russian Federation)
  • Kuznetsova N. (Department of risk Management and insurance, St. Petersburg state University, Faculty of Economics, Russian Federation)
  • Kalayda S. (Department of risk Management and insurance, St. Petersburg state University, Faculty of Economics, Russian Federation)
  • Ivanov L. (RAE (Russian Academy of Engineering), Russian Federation)

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