Target Funding as an Alternative Instrument of Investing Into Development Projects
The goal of the article lies in the study of the essence of development, development project and also sources, forms, methods and investment instruments, which the help of which its realisation is carried out. When conducting analysis and study of views of various scientists the article considered evolution of concepts of development, generalised views of researchers on definition of such notions as “development”, “developer” and “development project”. The article generalises and systemises sources, forms, methods and instruments of investing development projects and also shows the problem of imperfection of the mechanism of their application. The article critically compares advantages and shortcomings of the most popular investment instruments. Based on the analysis of criteria of selection of investment instruments, the article composes their most popular in Ukraine list. In the result of the study a new alternative investment instrument – target funding – was allocated as one of the most widest used. The article identifies the essence of funding and shows that the use of target funding provides a number of advantages for all participants of realisation of a development project. The prospect of further studies in this sphere is the search for the most optimal combination of alternative investment instruments, which are used by developers for realisation of development projects.