Importance The article discusses methodological distinctions and Russia’s position in international studies that comprehensively analyze the investment and business climate of national economies. Objectives I study Russia’s position in international ratings of investment and business climate so as to give my recommendations for improving the main areas of the governmental investment policy that influence the investment climate and business conditions in the country. Methods The theoretical and methodological framework comprises proceedings of the Russian and foreign scholars on the creation of favorable investment and business climate nationally and regionally. The data set of the research relies upon researches of the World Bank, Organization for Economic Cooperation and Development, World Economic Forum, Institute of Management Development in Lausanne and research by A.T. Kearney consulting company – Foreign Direct Investment Confidence. I apply modern general scientific methodology implying a comprehensive approach, scientific abstraction, techniques of analysis and synthesis, method of comparison and analogies. Results For purposes of the research, I conduct a comparative analysis of Russia’s positions in international ratings, such as Doing Business, Product Market Regulation, New Business Density, Global Competitiveness, World Competitiveness and Foreign Direct Investment Confidence. The article indicates the most critical issues of business development and investment climate. Conclusions Despite positive changes in Russia’s position in various international ratings, the investment and business climate is still not very attractive for foreign investors.
Keywords: investment climate, business climate, competitive environment, international ratings
Mantashyan G.N. [Business and investment climate in Russia]. Gorizonty ekonomiki = Horizons of Economy, 2013, no. 6, pp. 47–50. (In Russ.)
Kotukov A.A. [To the issues of research of the investment climate concept]. Problemy sovremennoi ekonomiki = Problems of Modern Economics, 2008, no. 4, pp. 261–265. (In Russ.)
Pobedonostseva G.M., Pobedonostseva V.V. [Theoretical approach to investment policy]. V mire nauchnykh otkrytii = Siberian Journal of Life Sciences and Agriculture, 2015, no. 3-9, pp. 4068–4079. (In Russ.)
Serova N.A., Emel'yanova E.E. Investitsionnyi klimat severnykh territorii: regional'nyi i munitsipal'nyi urovni [Investment climate of the northern territories: regional and municipal levels]. Apatity, Kola Science Center of RAS Publ., 2015, 164 p.
Koske I., Wanner I., Bitetti R., Barbiero O. The 2013 Update of the OECD Product Market Regulation Indicators: Policy Insights for OECD and Non-OECD Countries. OECD Economics Department Working Papers, 2015, no. 1200, pp. 1–74.
Wölfl A., Wanner I., Kozluk T., Nicoletti G. Ten Years of Product Market Reform in OECD Countries – Insights from a Revised PMR Indicator. OECD Economics Department Working Papers, 2009, no. 695, pp. 61–72.
Skuf'ina T.P. Regional'noe razvitie Rossii v kontekste makroekonomicheskikh dvizhenii [Regional development of Russia in the context of macroeconomic movements]. Apatity, Kola Science Center of RAS Publ., 2016, 136 p.
Fairlie R.W. Entrepreneurship, Economic Conditions, and the Great Recession. Journal of Economics and Management Strategy, 2011, vol. 22, iss. 2, pp. 207–231. URL: https://doi.org/10.1111/jems.12017
Imanberdiev B.D., Kasymov S.M., Turabaev G.K. [Measuring of national development is in system of global trends]. Fundamental'nye issledovaniya = Fundamental Research, 2013, no. 10-5, pp. 1100–1106. (In Russ.)
Stukalov P.S. [Quantitative methods to compare the international competitiveness of countries: Methodological aspects]. Perspektivynauki= Science Prospects, 2014, no. 4, pp. 85–89. (In Russ.)
Shvandar K.V. [International competitiveness: transformation of notion, assessment criterion, practical results]. Vestnik Moskovskogo universiteta. Ekonomika = Moscow University Economics Bulletin, 2008, no. 2, pp. 58–72. (In Russ.)
Kazantsev S.V. [Sanctions on Russia – Yesterday and Today]. EKO = ECO, 2015, no. 3, pp. 63–78. (In Russ.)
Samarina V.P., Skufina T.P, Samarin A.V., Baranov S.V. Some Problems of Anti-Recessionary Public Management in Russia at Present. Management of Systems of Socio-Economic and Legal Relations in Modern Conditions of Development of Education and Society, 2016, vol. 6, no. 6, pp. 38–44.
Serova N.A. [Place of Russia in competitiveness ratings]. Sever i rynok: formirovanie ekonomicheskogo poryadka = North and Market: Forming the Economic Order, 2015, no. 3, pp. 54–62. (In Russ.)