Financial tools for cluster development and management in Russian regions

The paper presents the analysis of existing approaches to the problem of clusters’ development, formation of its elements, difficulties related to development of cluster production infrastructure, financing sources, increasing efficiency from their development and use. The authors try to present their view of formation and financing of cluster structures, the system of interaction of its segments in the regions of the Russian Federation. Special attention is paid to measures of financial support and development of clusters. The need for transition from subsidiary forms of financing and tax preferences to more specific and efficient tools (targeted subsidies, co-financing, including private financing (domestic and foreign capital) based on the implementation of public-private partnership mechanisms, diversification of tools for development of cluster integration processes in the regions is proved.