Evaluating the effect of region's reputation capital on the revitalization mode of investing activity: The analysis methodology and its testing. Evidence from the regions of the Volga Federal District
Subject The article provides the rationale for studying models of spatial economic groth in terms of the reputation economics, since the role of regions’ reputation capital grows more and more important primarily due to the globalization of economic processes. Objectives The study devises and tests methodological approaches to formally evaluate the region’s reputation capital and its impact on investing activity. We focus on the regions of the Volga Federal District and use methodological tools for evaluating the way the region’s reputation influences investment processes, their trends and indicators. Methods Research employs models of spatial economic growth and, what is a distinguishing feature, offers a version of a conceptual approach to quantifying the regions’ reputation capital and its impact on the generation of investment processes in the regional economy. Results Based on the technique for the formalized evaluation of the region’s reputation, we constructed time series of the analyzable indicators of respective regions for 2010–2017. They were used to verify econometric estimates showing how the regions’ reputation capital influences investing activities. Conclusions and Relevance Based on the formalized methods, we captured that the regions’ reputation significantly influences their investing processes and respective trends. As part of the research, we traced patters verifying that reputation capital has a more notable effect in those regions that have a higher socio-economic development level. The methodological approaches would be practicable for evaluating the current and future efficiency of the regional economic development.
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