The role of state development institutions in the context of the implementation of various macroeconomic scenarios

The article considers the functional role of state development institutions in case of implementation of various macroeconomic scenarios. It is shown that the structural restructuring of the economy planned by the Government cannot be implemented only through private capital and requires active involvement of state development institutions in these processes. Four possible scenarios of economic development of Russia are identified and analyzed: crisis, autarky, situational adaptation, active transformation. It is shown that with 75% probability the Russian economy will experience outstripping growth of demand for long-term financing. At the same time, in the existing economic conditions, optimal results of economic development management can be achieved by combining planned and market methods. It is concluded that within the framework of the most probable scenarios of economic development it is fundamentally impossible to achieve success without strengthening the role of state development institutions. They should become the main “driving force” in the implementation of projects in the highest priority areas for structural modernization of the national economy. It is shown that within the framework of these scenarios they should perform three key functional roles: direct investment in priority sectors of the economy; stimulating the attraction of private capital by reducing risks and increasing the attractiveness of projects; coordinating the investment process to ensure a balance of interests and synergy of all participants. In conclusion, three areas for improving activities, increasing efficiency and strengthening the role of state development institutions are proposed.