Factors and Ways of Enhancing the Investment Attractiveness of the RegionLitvinceva Galina, Goldobina Alina
Investments are the resource which is necessary for economic development on the micro-, meso- and macro-levels. The investment attractiveness of the region is of special importance now when the Russian Federation entities are implementing important programs of social and economic development. Enhancing investment attractiveness and the intensification of investment activity in the region are indispensable prerequisites for increasing its competitiveness. Economists from various schools have repeatedly been studying this problem.
Theoretical and practical aspects of forming and analyzing the investment attractiveness of the Russian Federation entities are successively considered in the paper. The focus is made on the Siberian Federal District and the Novosibirsk Region. The time period of the analysis is 2006–2017. Official information of the Federal State Statistics Service is used.
The authors summarize the most significant characteristics of the region investment attractiveness and show the relation of this notion with such categories as an investment potential and risk as well as investment climate.
They identify the main applied methods of assessing the investment attractiveness of the region, which are based on both functional and organizational groups.
The authors modified the approach evaluating the investment attractiveness of the Siberian Federal District regions. This approach includes the calculation of annual and average rates of risk-free returns on fixed capital investments for the period under review. Special attention was given to the District industrial regions.
The Novosibirsk Region as an administrative center of the Siberian Federal District attracts particular attention. Therefore the authors studied the investment attractiveness of this region and factors influencing it, basing on the correlation-regression analysis. As a result the most significant factors which prevent enhancing the investment attractiveness of the region are identified.
The paper considers the peculiarities of government regulation of investment attractiveness on the regional level. The authors describe the measures to raise it specified in the District program documents. Basing on the calculations made and documents analyzed, the authors formulate additional measures to promote the investment attractiveness of the Novosibirsk Region and thus to increase its competitive advantage in the long run.