Firsov D.A.Saint Petersburg State University of Economics, St. Petersburg, Russian Federation firsov_d@mail.ru
Importance The research examines a financial component of derivative investment projects, which becomes a key aspect to assess the effect of the investment demand structure on trends in Gross Domestic Product. Objectives The research singles out the phenomenon of derivative investment projects and examines their effect on the national economy. I also review the structure of investment demand at the macroeconomic level, considering derivative investment projects. The article presents a model for assessing the effect of investment on GDP trends. Methods The research is based on the existing information asymmetry, i.e. a phenomenon that national and foreign scientists in economics actively and profoundly study. The mean of a random process is chosen as an analytical tool. Results The research points out a grouping of investment projects qualified as derivative ones. They originate when primary investment projects are implemented to address certain issues and cost reduction ceases to be the key requirement. Most of the existing and officially accepted performance indicators for such projects are nominal, with available finance being a fundamental condition for their implementation. I overview the key factors of implementing derivative investment projects and possibilities of curbing their development. Conclusions and Relevance Following the research, I conclude that, considering the existing percentage of derivative investment projects as part of investment, their growth will cause a drop in Gross Domestic Product. The article contains my recommendations to exclude derivative investment projects out of budgetary and other public investment. The outcome of the research may prove valuable for the sector of budgetary and other public investment.
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