Subject Insufficient investment activity, which is currently observed in many territorial entities of Russia, is a sticking point for sustainable socio-economic development at all levels, including municipal. In most cases, there is little or no regard for stadial characteristics of territories. Objectives The aim of this study is to assess dominant factors of investment appeal of municipalities at different stages of their life cycle, using the case of municipalities of the Republic of Bashkortostan. Methods The study employs methods of systematization, comparative and correlation-regression analysis. I use the Statistical Package for the Social Sciences software to assess the relationship between investment attractiveness and indicators of socio-economic development of municipalities of the Republic of Bashkortostan by their life cycle stage. Results I analyzed ratings of investment attractiveness of subjects of the Russian Federation, identified challenges of their comparative analysis and made suggestions to smooth them. The paper states that at different stages of any life cycle there is a differentiated set of factors (with two key factors), and they reflect the specifics of stages of territory development. It also reveals a direct relation between investment activity and the level of stadial development of municipalities. Conclusions It is necessary to stir up the State policy in the field of household savings as a key driver of investment development of territories, to improve the system of inter-budget transfers, taking into account the specifics of investment processes at different stages of life cycle of territories.
Keywords: investment, life cycle, municipality
References:
Batishcheva G.A. [Methods to determine investment appeal of regions]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2009, no. 19, pp. 56–61. URL: Link (In Russ.)
Matvienko I.I., Tutygin A.G., Chizhova L.A. [Methods for Determining Investment Attractiveness and Risk in Different Municipalities]. Ekonomika i upravlenie = Economics and Management, 2012, no. 2, pp. 81–87. (In Russ.)
Babaeva Z.Sh. [Investment climate and investment attractiveness of the region: Essence, factors and methods for determination]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2015, no. 10-2, pp. 215–218. (In Russ.)
Ataeva N.Yu. [Research in the investment attractiveness of municipalities]. Voprosy territorial'nogo razvitiya, 2015, no. 3. (In Russ.) URL: Link
Kremin A.E. [Analysis of Methodological Approaches to Assessing Investment Attractiveness of a Region]. Voprosy territorial'nogo razvitiya, 2019, no. 2. (In Russ.) URL: Link
Chuveleva E.A. [Influence of risks of merges and absorption on investment appeal of the region]. Sibirskaya finansovaya shkola = Siberian Financial School, 2015, no. 4, pp. 105–108. URL: Link (In Russ.)
Savin S.Yu., Anisimova A.I. [Angel investors as a method to revitalize investing activities]. Finansy i kredit = Finance and Credit, 2019, vol. 25, iss. 4, pp. 945–954. (In Russ.) URL: Link
Kazakova O.B. [The System of Factors Determining the Investment Attractiveness of the Territory]. Intellekt. Innovatsii. Investitsii = Intelligence. Innovations. Investments, 2017, no. 6, pp. 14–19. URL: Link (In Russ.)
Kachurina M.M., Gubanova N.V., Gubanova N.Yu., Karmanova T.E. [Investment attractiveness of Russian regions in terms of sanctions]. Sotsial'naya politika i Sotsiologiya = Social Policy and Sociology, 2015, vol. 14, no. 1, pp. 119–127. URL: Link (In Russ.)
Manukhina L.A. [Analysis of the impact of various indicators on the investment attractiveness of the urban environment]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2018, no. 5, pp. 570–573. (In Russ.)
Miroshnikov S.N., Charkina E.S. [Relevant issues of improvement of the investment climate in Russian regions]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2016, vol. 17, no. 11, pp. 1311–1320. URL: Link (In Russ.)
Serova N.A. [Institutions of formation of favorable investment climate in Russia (case study of Northern regions of the Russian Federation)]. Voprosy territorial'nogo razvitiya, 2015, no. 5. URL: Link (In Russ.)
Khrustalev B.B., Gorbunov V.N., Mursalimova N.N., Asyaev I.Yu. [Factors of investment climate in the region]. Sovremennye problemy nauki i obrazovaniya, 2015, no. 2. (In Russ.) URL: Link
Vyakina I.V., Aleksandrov G.A., Skvortsova G.G. [Investment Climate in the Region: The Nature and Components]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2012, no. 16, pp. 98–103. URL: Link (In Russ.)
Klimova N.I., Altuf'eva T.Yu., Ivanov P.A. et al. Zhiznennyi tsikl territorii [Life cycle of the territory]. Ufa, ISER UFRC of RAS Publ., 2018, 114 p.
Levitt T. Exploit the Product Life Cycle. Harvard Business Review, 1965, vol. 43, pp. 81–94. URL: Link
Ivanov V.V., L'vova N.A., Pokrovskaya N.V., Andrianov A.Yu. [A study of life cycle of the investment activities of enterprises: Evidence from the best practices of Russia]. Finansy i kredit = Finance and Credit, 2019, vol. 25, iss. 3, pp. 677–690. (In Russ.) URL: Link
Evdokimova E.N., Stepanov M.A. [Management of Cluster Structures Development on the Basis of their Life Cycles]. Teoriya i praktika obshchestvennogo razvitiya = Theory and Practice of Social Development, 2015, no. 12. URL: Link (In Russ.)
Porter M.E. Competitive Strategy: Techniques for Analyzing Industries and Competitors. NY, Free Press, 1980, 397 p.
Turgel' I.D. [Theoretical and methodological aspects of research of a city cycle]. Voprosy upravleniya = Management Issues, 2008, no. 3, pp. 94–104. URL: Link (In Russ.)
Forrester J. Urban Dynamics. Cambridge, Mass., M.I.T. Press, 1969, 285 p.
Zvyagina O.V. [Life cycle of old industrial territories in a region: Tendencies and development prospects]. Nauchnoe mnenie = The Scientific Opinion, 2014, no. 3, pp. 132–135. (In Russ.)
Klimova N.I., Altuf'eva T.Yu. [Life cycle of territories: The theoretical methodological approach to stadial identification and its appendix]. Fundamental'nye issledovaniya = Fundamental Research, 2017, no. 9-1, pp. 189–194. URL: Link (In Russ.)
Shmakova M.V., Kuznetsova Yu.A. [Accounting of the stages of the life cycle of the territory when choosing strategic priorities of territorial development (social aspect)]. Azimut nauchnykh issledovanii: ekonomika i upravlenie = Azimuth of Scientific Researches: Economics and Management, 2018, vol. 7, no. 4, pp. 351–354. URL: Link (In Russ.)
Maratkanova I.V. [The impact of internal and external environment factors on savings behavior of households in Russia]. Finansy i kredit = Finance and Credit, 2019, vol. 25, iss. 1, pp. 159–176. (In Russ.) URL: Link
Malkina M.Yu., Khramova I.Yu. [Determinants of household saving behavior in Russia: An econometric analysis]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2019, vol. 18, iss. 4, pp. 604–621. (In Russ.) URL: Link
Babicheva N.E., Lyubushin N.P., Lylov A.I., Gurtovaya I.N. [Exponential growth and the law of cyclic development of systems]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2018, vol. 17, iss. 11, pp. 1996–2009. (In Russ.) URL: Link
Kosov M.E. [Providing guarantees for the implementation of investment projects: Foreign practices]. Finansy i kredit = Finance and Credit, 2019, vol. 25, iss. 3, pp. 596–608. (In Russ.) URL: Link
Vyakina I.V., Plotitsyna L.A., Skvortsova G.G. [Investment tax incentives as tools for the development of land areas]. Regional'naya ekonomika: teoriya i praktika = Regional Economics: Theory and Practice, 2019, vol. 17, iss. 3, pp. 540–553. (In Russ.) URL: Link
Pechenskaya M.A. [Budgetary and bank credit systems of the urban district: Interaction points, problems and solutions]. Finansy i kredit = Finance and Credit, 2019, vol. 24, iss. 10, pp. 2255–2272. (In Russ.) URL: Link
