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National Interests: Priorities and Security
 

Investment in technological retrofitting of the region's agriculture

Vol. 16, Iss. 1, JANUARY 2020

Received: 22 October 2019

Received in revised form: 11 November 2019

Accepted: 29 November 2019

Available online: 16 January 2020

Subject Heading: INNOVATION AND INVESTMENT

JEL Classification: E22, Q14

Pages: 132–144

https://doi.org/10.24891/ni.16.1.132

Magomedov A.M. Dagestan State University of National Economy (DSUNE), Makhachkala, Republic of Dagestan, Russian Federation
ali1955@mail.ru

ORCID id: not available

Subject Agricultural production output directly depends on investment in capital stock. In the Republic of Dagestan, agriculture serves not only as life sustenance, but also as a fundamental mechanism for preserving rural areas and idiosyncratic culture of local peoples.
Objectives The study determines regional distinctions of investment policy for agriculture and identifies why the investment climate gets worse.
Methods As part of research, I examine the current scientific publications, process data of the Russian State Statistics Services and current information of the respective ministry. The study relies upon methods of analysis and synthesis and traditional economic and statistical analysis.
Results Analyzing investment in capital stock of Dagestan's agriculture over time and by source of finance, I infer that the agricultural sector has been facing a lack of investment in capital stock for the recent decade. Increasing investment in terms of actual values does not result in the same response of comparable values. Dagestan lags behind other republics and regions in terms of investment and technology. The amount of investment in machines and equipment decreases every year. Agriculture survives only due to the State aid. However, corruption and a lack of clear rules and standards of subsidizing, which would be understandable for agricultural producers, brings governmental efforts to nothing. Banking interest rates and low rate of return discourage private investors.
Conclusions and Relevance The article sets out how investment in the region's agriculture can be more effective, and outlines ways to improve agricultural leasing practices, since it mainly secures necessary finance for technological retrofitting of local agriculture.

Keywords: agriculture, capital stock, investment, State aid, leasing

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