Replacement of bank credit with issue of market debt obligations as a measure of stimulation of innovations in the economy of the country

Abstract

Within the framework of this article, the principles of lending, special features of the issue of market debt obligations and the advantages of their issuance are considered. At the same time, it is noted that the effective method of attracting investments for business development is the issuance of bond loans. At the beginning of the XXI century, there is a growing trend in the world of the importance of the debt financial instruments market in financing the company's activities, and now in developed countries the bond mass of corporations accounts for about 15-65% of total issues of corporate securities. In general, within the framework of the traditional model of development of the world economy and the generally accepted theoretical model of international capital flows, active work in financial markets is assumed. Today, in the light of the search for measures to support small and medium-sized businesses, as well as measures to stimulate innovation in the country's economy, the corporate bond market in Russia has high hopes as a promising source of additional investment resources for the real sector of the economy. The author fairly concluded that, based on the advantages of issuing debt securities, in the long term, an increasing number of companies will choose this type of financing of activities as the main one.