Institutional framework of state property pledge in nizhniy Novgorod Rregion
Collateral legal relations are an important factor of the investment process development. They reduce opportunistic loan risks and increase partners’ confidence within the transaction. The mortgage fund of Nizhniy Novgorod region is nowadays involved in the implementation of investment and innovat...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Russian Academy of Sciences, Institute of Economics of the Ural Branch
2012-09-01
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| Series: | Экономика региона |
| Subjects: | |
| Online Access: | http://www.economyofregion.com/archive/2012/41/1974/pdf/ |
| Summary: | Collateral legal relations are an important factor of the investment process development. They reduce opportunistic loan risks
and increase partners’ confidence within the transaction. The mortgage fund of Nizhniy Novgorod region is nowadays involved in the
implementation of investment and innovation projects up to 70%. Although theinstitutionalenvironment of regional collateral relation
has drastically improved in the last 11 years, the current status is far away from the ideal. Imperfect legal framework of collateral legal
relations with the public property leads not only to information asymmetry, but also to a reduced states’ incomefrom thesetransactions.
The paper analyzes the current legislative pledge of state property, describes the main steps of its modernization, identifies the positive
aspects and trends, as well as deficiencies, provides and gives a proof of necessary legal framework changes aimed at collateral financial
relations efficiency improvement in the region |
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| ISSN: | 2072-6414 2411-1406 |