+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
National Interests: Priorities and Security
 

Institutional restrictions of investment processes as a threat to national interests

Vol. 13, Iss. 6, JUNE 2017

PDF  Article PDF Version

Received: 31 January 2017

Received in revised form: 21 February 2017

Accepted: 18 March 2017

Available online: 29 June 2017

Subject Heading: NATIONAL INTERESTS

JEL Classification: D02, D23, E02, E22, F52

Pages: 1018-1031

https://doi.org/10.24891/ni.13.6.1018

Vyakina I.V. Tver State Technical University, Tver, Russian Federation
vyakina@yahoo.com

Importance National economic interests of Russia require the national economic system to evolve, generate income, ensure the reproduction and renewal of the capital stock. To examine methods for unleashing the investment processes and reproduction of the capital stock, it is necessary to analyze the existing investment barriers and restrictions.
Objectives The research identifies institutional restrictions to investment processes and examines institutional barriers of the Russian Federation, their causes and possible solutions.
Methods To examine the investment processes in the Russian Federation, I apply conventional methods for a scientific analysis, economic and mathematical statistics, feasibility and logic studies, graphic modeling and mathematical modeling in economics.
Results The article analyzes the current situation in the investment sector while investment and technological ties weaken in the global economy and consumer growth falls. I identify the most significant institutional barriers that obstruct capital investment at the current phase of the Russian economic development. I provide my own system of the main formal and informal institutional restrictions in the Russian Federation.
Conclusions and Relevance According to the Russian and foreign experts, ownership rights and the freedom of investors' decision-making are insufficiently protected in Russia. This is a serious problem that can be resolved if the business and investment climate is improved through institutional changes, thus increasing the confidence level. Gaining the confidence takes time. In this respect, it requires forming the civil society and reformatting the country into the State that protects the private life, strictly controls financial and business operations of governmental enterprises.

Keywords: institute, investment, institutional barrier, national interest, economic security

References:

  1. Bazzi S., Blattman C. Economic Shocks and Conflict: Evidence from Commodity Prices. American Economic Journal: Macroeconomics, 2014, vol. 6, iss. 4, pp. 1–38. URL: Link
  2. Vozzhenikov A.V. Paradigma natsional'noi bezopasnosti reformiruyushcheisya Rossii: monografiya [The paradigm of national security of reformed Russia: a monograph]. Moscow, EDAS-PAK Publ., 2000, 360 p.
  3. Naryshkin S.E. [Investment security as a factor of sustainable economic development]. Voprosy Ekonomiki, 2010, no. 5, pp. 16–25. (In Russ.)
  4. North D. Instituty, institutsional'nye izmeneniya i funktsionirovanie ekonomiki [Institutions, Institutional Change and Economic Performance]. Moscow, Fond ekonomicheskoi knigi Nachala Publ., 1997, 180 p.
  5. Boyd R., Richerson P.J. Culture and the Evolutionary Process. Chicago, University of Chicago Press, 1985, 340 p.
  6. Sugden R. The Economics of Rights, Co-operation, and Welfare. Oxford, Blackwell, 1986, 191 p.
  7. Margalitadze O.N. [The investment climate and its importance to attracting foreign investment]. Aktual'nye problemy sotsial'no-ekonomicheskogo razvitiya Rossii = Actual Problems of Socio-Economic Development of Russia, 2013, no. 1, pp. 49–55. (In Russ.)
  8. Medved' A.A. [Institutional issues of attracting foreign capital in the Russian Federation]. Uchenye zapiski Sankt-Peterburgskogo universiteta tekhnologii upravleniya i ekonomiki = Scientific Notes of St. Petersburg University of Economics and Management Technologies, 2013, no. 2, pp. 15–20. (In Russ.)
  9. Punanova U.N. [Ways to improve administrative-law tools for identifying and removing administrative barriers to entrepreneurial activities]. Administrativnoe i munitsipal'noe pravo = Administrative and Municipal Law, 2014, no. 12, pp. 1234–1242. URL: Link (In Russ.)
  10. Dement'ev V.E. [Discussion on the role of State corporations in Russia's economic strategy]. Rossiiskii ekonomicheskii zhurnal = Russian Economic Journal, 2008, no. 1-2, pp. 27–41. (In Russ.)
  11. Zubov V.M., Inozemtsev V.L. [Surrogate investment system]. Voprosy Ekonomiki, 2015, no. 3, pp. 76–86. (In Russ.)
  12. Lisin V.S., Yanovskii K.E. et al. Institutsional'nye ogranicheniya sovremennogo ekonomicheskogo rosta [Institutional constraints of the current economic growth]. Moscow, Delo Publ., 2011, 640 p.
  13. Kleiner G.B. [Russia's economy of today as the economy of physical entities]. Voprosy Ekonomiki, 1996, no. 4, pp. 81–95. (In Russ.)
  14. Akindinova N.V., Kuz'minov Ya.I., Yasin E.G. [Russia's Economy: Before the long transition]. Voprosy Ekonomiki, 2016, no. 6, pp. 5–35. (In Russ.)
  15. Akindinova N.V., Yasin E.G. [A new stage of economic development in post-Soviet Russia]. Voprosy Ekonomiki, 2015, no. 5, pp. 5–27. (In Russ.)
  16. North D. [Institutions and Economic Growth: A Historical Introduction]. THESIS, 1993, vol. 1, iss. 2, pp. 69–91. (In Russ.)
  17. Marx K., Engels F. Sochineniya. Tom 1 [Russian edition. Works. Vol. 1]. Moscow, GIPL Publ., 1955, 699 p.
  18. De Soto H. The Other Path: The Invisible Revolution in the Third World. New York, Harper and Row, 1989, 271 p.

View all articles of issue

 

ISSN 2311-875X (Online)
ISSN 2073-2872 (Print)

Journal current issue

Vol. 20, Iss. 3
March 2024

Archive