Perfection of tools for the implementation of state industrial policy in the context of economic transformations

In the article, the tools for implementing the state industrial policy are analyzed. The expediency of using development banks, which solve the tasks of long-term financing of strategically important projects, modernization of the economy and increasing the production potential, as specific financial development institutions for improving the implementation of state industrial policy, is substantiated.The set of measures implemented within the framework of industrial policy can differ substantially depending on the phases of the business cycle and the nature of the economic and political situation. In the conditions of a stable economy and stable functioning of basic public institutions, the need for industrial policy is reduced, being reduced to nothing in developed countries. However, during periods of socioeconomic transformations, political instability and a decline in business activity, integrated industrial policy becomes a key aspect of public administration, which allows to establish the sphere of material production and improve the welfare of the population.State industrial policy is a wide range of organizational and economic measures applied by the government for the integrated development of industrial potential, targeted support of individual industries and improvement of industrial infrastructure. The implementation of industrial policy involves the use of a variety of tools. They represent a combination of ways and means to achieve industrial policy goals and can be represented by a different set of tools chosen depending on the current state of the economy. Synthesis of conceptual approaches to the definition of a set of tools used to implement state industrial policy makes it possible to compile their matrix structure.As a tool of state industrial policy, development banks can be used to solve a wide range of problems. They can be aimed at providing loans at a subsidized reduced interest rate, project financing for individual enterprises or programs for the production of new product lines, supporting innovative producers and research programs, implementing regional development programs, financing clusters, etc. Development banks can be used not only as financial, but also as an organizational tool of state industrial policy, acting as an effective way of interaction between government and business.