Finance and Credit
 

Financial components of the investment process in the regions: Essence and evaluation

Vol. 24, Iss. 4, APRIL 2018

Received: 17 January 2018

Received in revised form: 12 February 2018

Accepted: 26 February 2018

Available online: 28 April 2018

Subject Heading: INVESTING

JEL Classification: Е62

Pages: 860—876

https://doi.org/10.24891/fc.24.4.860

Edronova V.N. National Research Lobachevsky State University of Nizhny Novgorod, Nizhny Novgorod, Russian Federation
v.n.edronova@mail.ru

ORCID id: not available

Maslakova D.O. National Research Lobachevsky State University of Nizhny Novgorod, Nizhny Novgorod, Russian Federation
mas-dariy@yandex.ru

ORCID id: not available

Importance The paper considers the financial relations in the investment process and its impact on investment processes in the regions of Russia.
Objectives We aim to determine the dynamics and indicators of regional investment process and reveal the correlation of these components in the Russian Federation.
Methods For the study, we used the scientific methods, including analysis and synthesis, modeling, correlation, and regression. The indicators characterizing investment processes and the level of economic development in the subjects of the Russian Federation for the period of 2011–2015 are the empirical basis of the study.
Results The paper specifies the definition of financial components of the investment activity of the region. It estimates the financial components of regional investment processes and detects their connection in different regions of the Russian Federation.
Conclusions and Relevance There is a significant differentiation of districts by level of investment per capita, and there is a slowdown in the rate of growth of investment per capita. The economic effect of investments is manifested only in some federal districts, the influence of investments on regional product is weak. The results of the research are intended for students, undergraduates and post-graduate students of economic specialties. They can be used by teachers in educational process. They also can are of interest for experts in the field of investment activities of public administration bodies.

Keywords: investment process, investment climate, investment activity, region, gross regional product

References:

  1. Belov A.B. [Financial decentralization and economic growth in regions of the Russian Federation]. Region: Ekonomika i sotsiologiya = Region: Economics and Sociology, 2008, no. 1, pp. 45–57. (In Russ.)
  2. Golubev G.M. Strategicheskoe upravlenie sotsial'no-ekonomicheskim i finansovo-investitsionnym razvitiem narodnogo khozyaistva, regionov. Monografiya [Strategic social-economic and financial-investment management of national economy and regions: a monograph]. St. Petersburg, Gerda Publ., 2005, 17 p.
  3. Bowman C. Osnovy strategicheskogo menedzhmenta [The Essence of Strategic Management]. Moscow, Banki i Birzhi Publ., YUNITI Publ., 1997, 175 p. URL: http://docplayer.ru/65765765-Kliff-boumen-osnovy-strategicheskogo-menedzhmenta.html
  4. Zaitseva N. [How to estimate investment attractiveness]. Banki i delovoi mir, 2007, no. 12. URL: https://www.lawmix.ru/bux/56151 (In Russ.)
  5. Rusavskaya A.V. [Investments and investment potential of the region]. Upravlenie ekonomicheskimi sistemami = Management of Economic Systems, 2012, no. 1, 33 p. URL: http://uecs.ru/uecs-37-372012/item/988- (In Russ.)
  6. Ulturgasheva O.G., Lavrenko A.V., Profatilov D.A. [Economic essence and the structure of the region's investment potential]. Problemy sovremennoi ekonomiki = Problems of Modern Economics, 2011, no. 1, pp. 227–229. URL: https://cyberleninka.ru/article/n/ekonomicheskaya-suschnost-i-struktura-investitsionnogo-potentsiala-regiona (In Russ.)
  7. Kormishkina L.A., Yulenkova I.B. [Investment process financing in Russian business: assessment, trends, problems]. Ekonomicheskie i sotsial'nye peremeny: fakty, tendentsii, prognoz = Economic and Social Changes: Facts, Trends, Forecast, 2014, no. 3, pp. 111–123. (In Russ.) URL: https://doi.org/10.15838/esc/2014.3.33.9
  8. Igonina L.L. [Financial capabilities of the investment process in the Russian economy]. Daidzhest-finansy = Digest Finance, 2016, no. 2, pp. 2–14. URL: https://cyberleninka.ru/article/n/finansovyy-potentsial-investitsionnogo-protsessa-v-rossiyskoy-ekonomike (In Russ.)
  9. Vaganova O.V., Vladyka M.V., Kucheryavenko S.A. et al. Investments as an accelerator of regional innovation development. International Business Management, 2016, vol. 10, iss. 16, pp. 3438–3442. URL: https://doi.org/10.3923/ibm.2016.3438.3442
  10. Vaganova O.V., Glagolev S.N. The Financial Mechanism to Ensure the Innovation Process. World Applied Sciences Journal, 2013, vol. 25, iss. 12, pp. 1729–1734. URL: https://doi.org/10.5829/idosi.wasj.2013.25.12.7076
  11. Zimin V.A. [Finance of investment processes, management of them]. Gumanitarnye, sotsial'no-ekonomicheskie i obshchestvennye nauki = Humanities, Social-economic and Social Sciences, 2014, no. 4, pp. 343–345. (In Russ.) URL: http://online-science.ru/userfiles/file/04cherrgpzzjje4fkl0ldlwvesajd93a.pdf
  12. Rashidov O.I., Rashidova I.A., Shatokhin M.V. [Analysis of interrelation of investment and GRP in Central Black Earth Region]. Ekonomicheskie nauki = Economic Sciences, 2010, no. 62, pp. 169–174. URL: http://ecsn.ru/files/pdf/201001/201001_169.pdf (In Russ.)
  13. Bugaeva T.N. [The investment development strategy of the state and region]. Nauchnyi Vestnik: finansy, banki, investitsii = Scientific Bulletin: Finance, Banking, Investment, 2016, no. 2, pp. 118–122. URL: http://fbi.cfuv.ru/wp-content/uploads/2017/09/018bugaeva-1.pdf (In Russ.)
  14. Gurman V.I., Libenson I.R., Skitnevskii D.M. [Modeling the region's sustainable development and investment strategies]. Sibirskii torgovo-ekonomicheskii zhurnal, 2013, no. 1, pp. 10–16. (In Russ.) URL: https://cyberleninka.ru/article/n/modelirovanie-ustoychivogo-razvitiya-regiona-i-investitsionnyh-strategiy
  15. Dubina M.V., Pilevich D.S. [Problems of activation of formation and investment attraction to national economy development]. Nauchnyi vestnik: finansy, banki, investitsii = Scientific Bulletin: Finance, Banking, Investment, 2014, no. 1, pp. 94–101. URL: http://fbi.cfuv.ru/wp-content/uploads/2017/09/016dubina.pdf (In Russ.)
  16. Tsepelev O.A., Serikov S.G. Procedure for Regional Investment Potential Assessment by Institutional Sectors of Economy. Indian Journal of Science and Technology, 2016, vol. 9, iss. 14. URL: https://doi.org/10.17485/ijst/2016/v9i14/91523
  17. Alekseeva V.Yu., Alekseeva E.Yu. [Investment in social sphere: classification of social infrastructure objects]. Aktual'nye problemy aviatsii i kosmonavtiki, 2012, vol. 2, iss. 8, pp. 217–218. (In Russ.) URL: https://cyberleninka.ru/article/v/investitsii-v-sotsialnuyu-sferu-klassifikatsiya-obektov-sotsialnoy-infrastruktury
  18. Yashin S.N., Yashina N.I. [Issues on improvement of the effectiveness of investment region's development management (as exemplified in the Nizhny Novgorod region)]. Regional'naya ekonomika: teoriya i praktika = Regional Economics: Theory and Pactice, 2007, no. 12, pp. 50–54. URL: https://cyberleninka.ru/article/n/voprosy-povysheniya-effektivnosti-upravleniya-investitsionnym-razvitiem-regiona-na-primere-nizhegorodskoy-oblasti (In Russ.)

View all articles of issue

 

ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

Journal current issue

Vol. 24, Iss. 7
July 2018

Archive