Home  Journals  Economic Analysis: Theory and Practice  9(138) – 2009 March

Prospects of Russian Regional Strategic Development in Terms of Investments

Available online: 18 September 2009

Subject Heading: The investment analysis

JEL Classification: 

What are the principles of creating and using the current development methods in different regions; what influences them and how can we make them more efficient - these are the questions answered by the author in this article. It appears, first of all in this direction we need to work on eliminating the inter-regional differences that reached significant level: for some pairs of regions the difference in terms of development level is almost 10 times. The author insists on the need of strategy, a rather long-term one, to move to the next level of the Russian economy development. Within the chosen strategic line, the key federal programmes for certain sectors must be developed. The resources must be gathered for the most important areas of economy, science and technology. At that a question of switching to medium- and long-term planning is sure to arise. Among the decisions concerning the innovational and investment growth in the Russian economy the following steps are recommended in short run, according to the author. 1. Rearrange the reserves of financial and other instruments to stimulate the Russian investor, instead of the foreign. 2. Take an inventory of all the commercial entities in the RF in terms of the market prices to estimate the expediency of investments into their businesses. 3. Susbstitute VAT and income tax with a productive facilities tax, to make the budget profit more substantial and clear, and improve their objectivity. 4. Reconsider the privatization results: monopolists received the rights for fixed capital and circulating assets, but not for the natural resources that must remain an exclusive right of the state. 5. Give the Russian proprietor obligations, in addition to the rights. Specifically it concerns the obligation to provide excellent quality of the products, on account of profit, and satisfaction of employees' social needs.

Keywords: forecasting, budget, error, surplus, reduction, expenses, innovation, way, development, rate, growth, production, programme, project, investment, attraction, stage, infrastructure, subsidy

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ISSN 2311-8725 (Online)
ISSN 2073-039X (Print)

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