Journal of Applied Economic Research
ISSN 2712-7435
FORMATION AND IMPLEMENTATION OF INVESTMENT POLICY IN AN INDUSTRIAL REGION
Vlasov S.V.
Abstract
This research deals with the process of investment policy management in a region under modern conditions. The principal aim is to demonstrate the principles and structure of the investment policy introduced in an industrial region, taking the Sverdlovsk region as an example. The concept of this new idea combines the differentiation of the development of the investment policy and the introduction of supplementary management functions in the process of its implementation. The approach taken in this article considers the balance between investment and innovation policies in the region. Using the case of the Sverdlovsk region, conclusions are reached about the medium-term aim of the investment policy on social and economic growth and its strategic task of creating an innovative economy.
An analysis of the social and economic situation over the past five years and the comparison of various forecasts up to the year 2018 in Russia and this particular region demonstrates a slowdown in the region’s economy and indicates an investment crisis. The status of the investment policy amid internal and external problems in social and economic growth in Russia and its regions is described in this article.
The article considers the region’s investment potential to enhance investment activity. Based on comparative and statistical methods, trends in modern investment policy under the conditions of the investment crisis in the Sverdlovsk region are proved. It is argued that it is necessary to change the priorities of investment policy from quantitative growth to qualitative improvement in order to achieve a balanced investment and innovation policy.
A systematic and structural approach was applied to show a two-stage concept of regional investment policy including independent and interconnected phases such as its formation and future implementation. The research offers examples of investment policy improvement in the Sverdlovsk region.
The findings of the research are applicable to the work of federal, regional and municipal bodies; they can be of great value to experts in the sphere of regional investment and improvement policy as well as to organizations specializing in attracting investment and investors to Russian regions.
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Keywords
Key words: investment and innovation policy, investment crisis, investment and innovation policies balance, mechanism of formation and implementation, industrial region.
About Authors
DOI: http://dx.doi.org/10.15826/vestnik.2015.14.6.049
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