Leasing: a historical tradition and a tool for economic modernization

amid continuous changes in the global economy, leasing remains an important tool for the modernization of industrial equipment and the improvement of business processes. As a form of investment, leasing operations enable enterprises to utilize the latest technological solutions without large one-time capital expenditures. Russian businesses, striving to enhance their competitiveness and respond to the challenges of digital transformation, the SARS-CoV-2 pandemic, and economic sanctions, view leasing as an effective means of expanding fixed assets and updating production capacities. A historical retrospective of leasing reveals its deep roots in the legal institutions of the Ancient and Medieval worlds, as well as its significant evolution in the 20th century, when developed industrial countries introduced financial leasing mechanisms to stimulate investment. Today, Russia is witnessing growing interest in leasing, particularly in the automotive, construction, and agricultural sectors. However, further development is hindered by legislative and practical issues related to taxation, specific accounting rules, mechanisms for repossession of leased assets, and simplified debt recovery procedures. This article summarizes the main theoretical and practical aspects of leasing, highlights its evolution from ancient times, and analyzes the current state of the Russian leasing market in light of recent regulatory changes. Recommendations are proposed to improve the legal framework and organizational mechanisms of leasing transactions.

leasing, financial rent, modernization, investments, equipment, contract, economy