Regional investment policy as a part of sustainable development: The best practices in Russia

Authors

  • Victoria Gusarova Pskov State University
  • Svetlana Demidova Pskov State University

Keywords:

regions, investment, sustainable development, regional investment policy, gross regional product, impact factors

Abstract

Purpose. The main goal of the research is to analyze the role of regional investment policy in the sustainable development of Russia as a whole and Russia’s regions through theoretical and practical approaches. Firstly, the theoretical framework is considered and the authors’ point of view is presented. The survey analyses the core results of regional investment policy for regions’ economic development. The authors determine that regional economies’ development level is an important basis for business development.

Design/methodology/approach. Statistics describing investment behaviour and some other economic indicators in the regional approach were analyzed. All regions were classified according to investment growth criteria. Correlations with key socio-economic indicators were made for the most and least developed regions. Regions were classified according to several criteria.

Findings. Based on the literature review, the authors provided a definition of regional investment policy. The authors found a big difference in the outcomes of regional investment policy in Russian regions. Investment does not have a strong correlation with  other economic indicators of regional development. The authors provided indicators for regions’ classification.

Originality/value. The research systemizes different points of view on regional investment policy and sustainable development issues. The article has an original approach to the classification of impact factors for regional investment policy efficiency. It may beinteresting for regional authorities, foreign governments and potential investors.

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Published

20.09.2022