Economic Analysis: Theory and Practice
 

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Assessing the factors of investment appeal of municipalities at different stages

Vol. 18, Iss. 10, OCTOBER 2019

Received: 10 June 2019

Received in revised form: 28 June 2019

Accepted: 12 July 2019

Available online: 30 October 2019

Subject Heading: ECONOMIC ADVANCEMENT

JEL Classification: O11, O18, R11, R12

Pages: 1812–1825

https://doi.org/10.24891/ea.18.10.1812

Ivanov P.A. Institute of Socio-Economic Research, Ufa Science Centre of RAS, Ufa, Republic of Bashkortostan, Russian Federation
ivanov-ran@mail.ru

https://orcid.org/0000-0001-9880-0521

Subject Insufficient investment activity, which is currently observed in many territorial entities of Russia, is a sticking point for sustainable socio-economic development at all levels, including municipal. In most cases, there is little or no regard for stadial characteristics of territories.
Objectives The aim of this study is to assess dominant factors of investment appeal of municipalities at different stages of their life cycle, using the case of municipalities of the Republic of Bashkortostan.
Methods The study employs methods of systematization, comparative and correlation-regression analysis. I use the Statistical Package for the Social Sciences software to assess the relationship between investment attractiveness and indicators of socio-economic development of municipalities of the Republic of Bashkortostan by their life cycle stage.
Results I analyzed ratings of investment attractiveness of subjects of the Russian Federation, identified challenges of their comparative analysis and made suggestions to smooth them. The paper states that at different stages of any life cycle there is a differentiated set of factors (with two key factors), and they reflect the specifics of stages of territory development. It also reveals a direct relation between investment activity and the level of stadial development of municipalities.
Conclusions It is necessary to stir up the State policy in the field of household savings as a key driver of investment development of territories, to improve the system of inter-budget transfers, taking into account the specifics of investment processes at different stages of life cycle of territories.

Keywords: investment, life cycle, municipality

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