Importance Further development of Russian regions should be based on high-tech industrialization. The transition to the new progressive neo-industrial paradigm of economic development is particularly important for boosting investment processes in Russian regions to ensure economic growth. Objectives The purpose of the study is to assess the development of investment processes in the Republic of Mordovia and work out proposals for neo-industrial modernization of the region's economy. Methods The study rests on the systems and integrated approach. I employ scientific abstraction, induction and deduction, synthesis, comparison, and benchmarking analysis to review the development of investment processes in the region. Results The paper analyzes trends in capital investment in Republic of Mordovia. It presents an assessment of fixed investment structure by sectors and sources of financing, evaluates the efficiency of investment activities in the region based on the calculation of investment multiplier and its impact on the change in gross regional product after a certain time lag. The findings may be useful for public authorities involved in working out measures to promote investment. Conclusions and Relevance To stir up investment processes in the region, it is crucial to introduce State tax incentives for active use of enterprises' own funds to finance investment; to reallocate budgetary resources to develop the national economy and human capital; to expand public-private partnership; to establish a system for investment risk insurance.
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