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Financial Analytics: Science and Experience
 

The investment process development in Russia and change in the economic development paradigm

Vol. 8, Iss. 48, DECEMBER 2015

PDF  Article PDF Version

Received: 19 November 2015

Accepted: 9 December 2015

Available online: 27 December 2015

Subject Heading: INNOVATION AND INVESTMENT

JEL Classification: 

Pages: 24-34

Kormishkin E.D. Ogarev Mordovia State University, Saransk, Republic of Mordovia, Russian Federation
kormishkined@mail.ru

Semenova N.N. b Ogarev Mordovia State University, Saransk, Republic of Mordovia, Russian Federation
nnsemenova@mail.ru

Importance Considering new challenges and threats to economic security of the Russian Federation, it is necessary to change the model for economic development of the national economy and switch from export and resource focus to the new industrial economy. New industrial development of the Russian economy strongly depends on capital investment.
     Objectives The research assesses trends and structure of capital investment in the Russian economy.
     Methods The research employs a systems approach, scientific abstraction, deduction and induction, analysis and synthesis, thus providing a comprehensive interpretation of economic indicators and identifying the main economic development trends.
     Results We analyzed trends in capital investment as seen in Russia. Whereas the capital accumulation rate is the most crucial indicator for feasibility of any investment process, the article presents a comparative analysis of the indicator in Russia and the EU. It overviews the sectoral structure of capital investment, investment per type of fixed assets, and sources of investment finance in the Russian economy.
     Conclusions and Relevance The current level of capital investment, sectoral structure of investment allocation fail to ensure the new industrial course of the Russian economy. The new industrial development requires more capital investment, and changes in their sectoral structure.

Keywords: investment, fixed assets, gross accumulation, new industrialization, development

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