Toguzova I.Z.Financial University under Government of Russian Federation, Vladikavkaz Branch, Vladikavkaz, Russian Federation in_toguzova@mail.ru
The cardinal transformations, which have occurred in recent years in the Russian economy, entailed essential changes in some theoretical, procedural and methodological approaches to investment activity financing both at the macrolevel and at the level of regions. Under modern conditions, dynamic processes in the economy cause the need for new approaches to defining a set of indicators that characterize financial opportunities of a region. The article describes the approaches to the assessment of financial capacity of a region using a system of integrated indicators, the main techniques of integration of indicators, identifies their merits and demerits, and justifies the efficiency of applying various methods to assess investment potential of a region. The study presents qualitative and quantitative characteristic of investment potential of the Republic of North Ossetia - Alania. The author organizes the system of indicators that estimate investment potential from the perspective of a region's capacity to produce internal financial and investment resources, to attract and accumulate external resources, and to transform resources and savings into investments. The author analyzes the indicators of the monetary and credit sphere and considers them as the key ones that assess the credit potential of the economy. The objective of the research is to study the investment potential of the economy of a region enabling to determine the degree of attainability and feasibility of strategic and tactical goals and solution of tasks faced by the region and its business entities, which are particularly acute today. Using econometric methods, the author analyzed qualitative and quantitative aspects of region's investment potential assessment and identified the areas of its enhancement. The author identified the parameters of the condition of financial and monetary market of the Republic of North Ossetia - Alania as indicators of investment capacity building. The study includes an analysis of the condition of financial infrastructure, data on the volume of credits, deposits and invested assets in rubles broken down by credit organizations registered in the Republic, average interest rates of credit organizations for credit and deposit transactions. The conclusion is that the management of financial and investment potential should be based on capacity-building by means of arranging a multichannel system of financing, establishing financial and investment infrastructure institutions, increasing activities in the market of financial resources of a region.
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